6
votes
Accepted
Does higher rate tax relief count towards pension contribution limits in the UK?
The limit is on your gross contribution, i.e. the total amount your pension scheme receives.
For employer contributions, no tax is ever charged and the gross contribution is just that amount.
For ...
- 27.9k
6
votes
Pension LTA (Life Time Allowance) limit criteria
Note - this is a complicated topic. I've read the rules multiple times
and I'm still not sure I understand them perfectly. So please take this
with a pinch of salt and read the rules for yourself.
...
- 27.9k
5
votes
Accepted
US tax handling of UK pension contributions
The 401(k) limit comes from this paragraph:
The reliefs available under this paragraph shall not exceed the
reliefs that would be allowed by the other State to residents of that
State for ...
- 165k
5
votes
Accepted
Claiming UK benefits with a SIPP/ISA
See UC Regs 2013 s46 https://www.legislation.gov.uk/uksi/2013/376/part/6/made/data.xht?view=snippet&wrap=true
and Schedule 10
https://www.legislation.gov.uk/ukdsi/2013/9780111531938/schedule/10
...
- 369
4
votes
Accepted
Sample illustration for UK pension
Your calculation is incorrect. The general idea is that money you contribute to your pension isn't subject to income tax (at the time you put it in - it is taxed later when you take it out). In your ...
- 27.9k
4
votes
Accepted
Where/how does pension tax relief for higher rate tax payers get paid once a self-assessment tax claim is completed?
I get my tax refunds paid direct into my bank account. They certainly won’t be paid into your pension.
- 22.9k
4
votes
Accepted
As a shareholder, what are the pros and cons of a Share Consolidation and Return of Capital?
The basic theoretical reason for a company to return money to shareholders is that the company doesn't need the money for its own purposes (e.g. investment or working capital). So instead of the ...
- 27.9k
3
votes
Accepted
How can I estimate future pension pot limit?
Predicting government regulation in the near future is hard enough. Predicting what the government will do 25 years out is so hard I'm not sure there is a good answer to your question.
Your ...
- 6,588
3
votes
Pension LTA (Life Time Allowance) limit criteria
Rather than reading news stories, why not go straight to the HMRC source? https://www.gov.uk/tax-on-your-private-pension/lifetime-allowance
Seems your lifetime allowance measurement differs based on ...
- 2,283
3
votes
SIPP pension withdrawal tax obligations (UK HMRC)
You can take 25% tax free total. Once that's taken, the rest is all taxed at the time you withdraw it. But if you stagger the payments you are likely to be able to stay under either the personal ...
- 27.9k
2
votes
Accepted
Can I buy stocks on Vanguard SIPP from UK
My understanding is that Vanguard's platform is tied to their products and only lets you buy the things (funds and ETFs - all Vanguard's own products) listed here:
https://www.vanguardinvestor.co.uk/...
- 3,937
2
votes
Accepted
UK Pension Annual Allowance and Carry Forward
They fill the current years' allowance before flowing down to previous years (oldest first).
References:
The general UK government page:
If you use all of your annual allowance for the current tax ...
- 27.9k
2
votes
How Does a Workplace Pension Interact With A SIPP In The UK
Have done some further research here, and it seems there are two options, depending on your employer and current workplace pension provider.
Keep your workplace pension and make one or more 'partial ...
- 190
2
votes
Accepted
Does the FSCS protection limit of £85K mean I have to spread my pension pot across different providers?
I haven't checked all of them, but I'm pretty sure all UK SIPP providers will hold (uninvested) client money in trust, or at least in segregated accounts. Here are some examples:
Hargreaves Lansdown
...
- 3,975
2
votes
Where/how does pension tax relief for higher rate tax payers get paid once a self-assessment tax claim is completed?
The one time I did it they sent me a cheque. These days you may be able to claim online.
Your P800 will tell you if you can claim your refund online.
Any payments into your pension you'd have to ...
- 5,095
1
vote
Will Poland tax my SIPP?
If you are resident in Poland then you can no longer contribute to UK SIPP or ISA accounts and if you get caught you may be heavily penalised in the UK.
I have lived in Poland for some time and my tax ...
- 11
1
vote
Will Poland tax my SIPP?
Residence of the company?
You are asking 'am I going to be taxed on the contributions my company makes'. If the company is still resident in the UK, then 'no' simply because the UK still has primary ...
- 36
1
vote
Accepted
Which Novo Nordisk ticker is most tax efficient in a UK SIPP?
What I ended up doing was finding where each ticker of Novo was registered (what exchange), then individually looking up the foreign taxation rules of the containing country. Luckily, most companies ...
- 2,283
1
vote
Putting borrowed money into an SIPP
You may have misunderstood some parts of the system.
If you make a pension contribution in any given year, the tax relief is based on your income for that year - the gross pension contribution is ...
- 27.9k
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