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Is some of this gobbledegook?
I thought the £80k was ‘grossed up’ to £100k by the taxman, but it says here this is then ‘grossed up’ further still to £133k!
Sounds ridiculous! Is the article wrong? If not can someone explain how the £100k in your SIPP (after the taxman has added £20K) magically then becomes £133k.
The article already says a higher rate taxpayer can claim a further £20k relief, but this comes off his tax bill and is not added to his pension pot (…and is in any event £20k, not £33k).
Can someone please clarify!
Where are you getting those figures from?
From this website…
How the SIPPS tax rebates work.
is the title of the page
Looks wrong to me!
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Last Updated October 18 2021
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