How the Sipps tax rebates work

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    • #1018 Reply
      ian
      Guest

      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!

    • #1019 Reply
      Don
      Guest

      Hi Ian

      Where are you getting those figures from?

    • #1020 Reply
      ian
      Guest

      From this website…

      How the SIPPS tax rebates work.
      is the title of the page
      https://pensionsorter.co.uk/sipps-pension-tax-details/

      Looks wrong to me!
      Ian.

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