Hurricane75

Hi, My earnings before tax in 23/24 are £75,270. I have made a payment of £20k into my SIPP and received £5k basic tax relief. Would I be entitled to claim a further £5k relief based on the higher rate of tax I pay? Also, would my adjusted net income be £50,270 OR £45,270 Many thanks

Ok, so using carry forward provides an opportunity for greater tax relief. However, potentially I can end up getting basic rate relief on earnings which I have paid the higher rate tax? Thanks

I would like to make a pension contribution of £100,000 in 23/24 and claim back tax relief. Tax year Allowance Contribution Earnings 40% threshold 23/24 60,000 100,000 100,000 50,270 22/23 40,000 0 100,000 50,270 21/22 40,000 40,000 100,000 50,270 20/21 40,000 40,000 100,000 50,000 Using carry forward, I can claim tax relief for the full pension contribution of £100,000 in 23/24. This is full allowance of £60,000 from 23/24 and £40,000 carried forward from the unused allowance in 22/23. I would like to clarify how much higher rate tax relief I can claim back. For 23/24, I'm assuming I can claim higher relief on £49,370 (my earnings above the higher rate threshold) and basic relief on the remaining £10,270. For 23/23, can I claim higher rate tax relief on the full £40,000? Thanks