I pay into a sipp and have done for years. I also pay money into my children’s SIPP. Hargreaves lansdown pay the 25% relief automatically. I can then claim back the higher tax on my pension only and my tax lady fills in my tax return. It’s took 8 months to get my tax relief back this year from HRMC!! I pay tax on my cash savings and I offset this against the tax relief. It took so long to get my tax relief lump sum that next year I think I may just take the change to my tax code and get it paid monthly. I always I ensure that my salary is below £100k cause you lose lots of allowances otherwise. So I pay AVCs into my work place pension too
Great content as always Marta - your previous video regarding claiming tax relief online when filling out self assessment online was very helpful. I used it to claim back tax relief. Some of the comments here are pretty wild 😂 sadly detracts from the very informative content
I utilised the tax relief last year and was able to offset my tax against it. saved a lot of money by doing it. All I did was ring HMRC up and then again in October to confirm the details and Tax code was adjusted. Very happy with the process (albeit being impatient at times lol)
If you have no earnings from employment (e.g. already retired) the most you can invest in a SIPP is £3600 a year (after the tax rebate has been added). Its a rule to stop you recycling too much money from one pension to another (claiming tax relief each time).
Hi Marta, Thank you for your posts. Sadly I am about 500 years older than you. I have saved about £500K into my SIPP over the years. I purchased my home for a few £K back in the 70s but now alas it uses up all of my IHT allowance. I was hoping to leave my SIPP to my children. However now the government have changed the rules. They will now expect 60 odd % off that fund leaving my children with 30p in the £ of my Pension Pot. I would get more pleasure taking my pension pot out in cash and putting it on a bonfire rather than them having 1 penny piece in IHT. Any ideas how to avoid IHT on Pension Pots?
@@Marta-Lis no worries, you gave us free information, it is good to put smile on your face. ---------- I appreciate you work a lot Marta, they don't teach this in uni. thanks for information
I pay into a sipp and have done for years. I also pay money into my children’s SIPP. Hargreaves lansdown pay the 25% relief automatically. I can then claim back the higher tax on my pension only and my tax lady fills in my tax return. It’s took 8 months to get my tax relief back this year from HRMC!! I pay tax on my cash savings and I offset this against the tax relief. It took so long to get my tax relief lump sum that next year I think I may just take the change to my tax code and get it paid monthly. I always I ensure that my salary is below £100k cause you lose lots of allowances otherwise. So I pay AVCs into my work place pension too
Had to watch this twice just to make sure message landed 😉
Haha. Good!
Great video. Just have to be careful my wife doesn’t catch me watching it.
Thank you! She's lucky to have such a considerate husband and I wish both of you the very best!:)
Great content as always Marta - your previous video regarding claiming tax relief online when filling out self assessment online was very helpful. I used it to claim back tax relief. Some of the comments here are pretty wild 😂 sadly detracts from the very informative content
That's great to hear! Glad that I was able to help:)
Great information & well delivered as usual, thanks Marta.
Glad you think so!
I utilised the tax relief last year and was able to offset my tax against it. saved a lot of money by doing it. All I did was ring HMRC up and then again in October to confirm the details and Tax code was adjusted. Very happy with the process (albeit being impatient at times lol)
I like this with either the sound on and off.
Looking goooood in black Marta. ;)
Thanks Eddie.
Great information
Glad you liked it
You can also the tax rebate directly credited to the SIPP. I pay £2880 a year, and £3600 is immediately added to my SIPP.
Great keep it up,
If you have no earnings from employment (e.g. already retired) the most you can invest in a SIPP is £3600 a year (after the tax rebate has been added). Its a rule to stop you recycling too much money from one pension to another (claiming tax relief each time).
Thanks for adding this information, Robert!
If your company moved pension schemes to a different provider can you carry forward the unused allowance? It contribute to a newly opened sipp?
Hi Marta, Thank you for your posts. Sadly I am about 500 years older than you. I have saved about £500K into my SIPP over the years. I purchased my home for a few £K back in the 70s but now alas it uses up all of my IHT allowance. I was hoping to leave my SIPP to my children. However now the government have changed the rules. They will now expect 60 odd % off that fund leaving my children with 30p in the £ of my Pension Pot. I would get more pleasure taking my pension pot out in cash and putting it on a bonfire rather than them having 1 penny piece in IHT. Any ideas how to avoid IHT on Pension Pots?
WOW - soooooooo gorgeous! - marry me! then we can take advantage of dual tax allowances 🙂
Thank you:) Hahaha, that would be quite a reason!
Marta, marry me , hey if you are married, forgot it
Haha. I'm not and not planning to but thank you for the offer!
@@Marta-Lis no worries, you gave us free information, it is good to put smile on your face. ---------- I appreciate you work a lot Marta, they don't teach this in uni. thanks for information
are you ok wearing see through with bra top to talk about this important topic?
It’s a nice bra and nice top. Why does it matter what she is wearing?