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Posted Mon, 13 Nov 2023 16:01:01 GMT by
Hello all In 2022/3 I took out a SIPP (for the first time) . A sum of money was then paid into the SIPP from my limited company (I'm the sole director and sole employee). How and where should I account for this payment on my self-assessment form? I'd be very grateful to know, as this is the first year that I've paid anything into a SIPP. The Sipp was entirely non-contributory. Cheers in advance for any help
Posted Wed, 15 Nov 2023 15:14:35 GMT by HMRC Admin 5
Hi

You would not declare this on your personal tax account as it is paid by the limited company.
You will claim the payment as a business expense in order to reduce your Corporation Tax liability and you will need to make sure the pension company is aware that it has in fact been paid by the company and not you.

Thank you

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