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P Bell

P Bell

Joined: 9/23/2023

  • Personal Savings Allowance and SIPP contributions

    Sat, 23 Sep 2023 09:26:11 GMT – Personal Savings Allowance and SIPP contributions
    I'm in full time employment and contribute to a Workplace Pension through salary sacrifice and also contribute to a SIPP. Please could someone clarify whether SIPP contributions reduce the income figure used to determine whether the Personal Savings Allowance is £500 or £1000 (like Workplace Pension contributions do)? I understand savings interest and dividend income need to be added to my employment net income in the calculation but couldn't find anything definitive about whether SIPP contributions also have an impact.