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Posted Fri, 29 Mar 2024 14:40:20 GMT by james-smith
Hello, I own a limited company. I wish to make a SIPP contribution to my pension for this year above £60k. I see from this link: https://www.1stformations.co.uk/blog/company-director-pension-contributions/ "Company contributions Pension contributions made directly from your limited company are not restricted to the salary threshold and annual pension allowance limit. Consequently, you can pay more than £60,000 per year into your director pension pot, as long as the total amount does not exceed your company’s annual profits." Does this mean I can go above the £60k threshold, as long as I have company profits to finance this? And any amount above the £60k still gets personal tax relief? Thanks
Posted Thu, 04 Apr 2024 11:31:20 GMT by HMRC Admin 2
Hi,

The £60k allowance covers all payments to pensions and the tax relief applied.

HS345 Pension savings — tax charges (2023)

Thank you.

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