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Posted Tue, 28 Mar 2023 10:10:30 GMT by Christ
I understand the contribution is my yearly income or £40,000, whichever is lower. For my yearly income, is it the gross amount (before deduction of tax and NI) or net amount (take home amount after tax and NI)? I undersand that the upper limit includes my SIPP contribution,as well as the company pension plan (employer and employee) contribution too?
Posted Tue, 04 Apr 2023 10:23:14 GMT by HMRC Admin 32

The maximum you can pay to your pension scheme, is the lower of your gross salary or £40000.00.  

The maximum you and your employer can pay in, is £40000.00.  

Any sum above this threshold, is subject to tax and needs to be reported in a Self Assessment Tax Return.

Thank you.

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