Keith
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RE: Late salary sacrifice pension contributions
Thanks for the reply, which nearly clarifies the situation. The linked document states The date of payment in the case of a contribution made under the net pay arrangements is the date of deduction from the employee’s pay. Can you clarify the date of deduction from pay? Is this the date for which I am being paid eg week 52 of 2023/24? Or the date when the payroll is processed which is about 5 weeks later? Thanks Keith -
Late salary sacrifice pension contributions
I am contributing to a SIPP through salary sacrifice. My salary is paid five weeks in arrears, and the salary sacrifice sent to the SIPP provider in the following month. So my last pay for the current tax year for work up to 31/03/24 will be paid to me on 29/04 and the employer SIPP payment will be made on 19/05/24. My understanding from other posts on this forum is that this SIPP payment will count towards my annual allowance for 2023/24 even though the payment is made in the following tax year. Can you confirm this is correct as my SIPP provider says different, that they will consider it part of my allowance for the 2024/25 tax year? Thanks