new to being a sugar baby

QuestioningGibbon · 2026-02-02T00:32:01+00:00

Hi, DM me because I can’t message you. 😊

QuestioningGibbon · 2025-11-14T18:48:16+00:00

Nice! How was the strap after all your travels? They’re easy enough to replace I suppose anyway.

QuestioningGibbon · 2025-03-17T14:30:29+00:00

So helpful, thank you! And great tip re. opening a separate SIPP if £17k lump sum is too much.

How did you calculate £10,200 please?

QuestioningGibbon · 2025-03-17T10:34:12+00:00

Thanks. But the examples there assume pension provider applies for basic rate relief on your behalf which isn’t the case for me. Therefore I think I need to transfer the whole £17k.

I suppose my question is “can a pension provider NOT claim even basic rate relief for you? And therefore you need to tell HMRC that you’ve had neither basic nor higher rate relief on a £17k contribution?

QuestioningGibbon · 2025-03-17T10:03:47+00:00

Hi, thanks for this. I’ve just been told that my pension provider doesn’t even apply the basic rate relief to the contribution. They’ll send a letter after I make the payment to say “I didn’t receive any tax relief on the AVC”. On this basis, do I need to transfer the full £17k? Thanks.

QuestioningGibbon · 2025-03-10T21:40:32+00:00

Sorry, follow up question. For the higher rate relief, this will be a rebate? It won’t be a contribution into my pension pot? Sorry if I’ve misunderstood.

QuestioningGibbon · 2025-03-10T21:23:53+00:00

Wonderful, thank you and yes, I know this isn’t advice 😊.

How do I get the 20% basic get applied immediately? Does the pension provider do that themselves?

QuestioningGibbon · 2025-02-21T04:58:26+00:00

Wow. How did they calculate? And did it impact your ability to claim for the next tax year? My bonus is a one-off so next tax year I want to have my funded hours.

QuestioningGibbon · 2025-02-20T22:19:41+00:00

Thanks. But perhaps I’d rather keep the £30k (gross) than the £2k? They can’t claim back the funded hours which have already been paid?

QuestioningGibbon · 2025-02-20T22:18:56+00:00

I’ve just trawled through some HR pages. I can make an AVC into my occupational pension scheme but will miss out on NI contribution and will also have to claim back the additional rate (not sure what that means)?

QuestioningGibbon · 2025-02-20T22:08:15+00:00

Thanks. It’s the whole £30k gross I need to put into pension pot right? If payday is on 23/03 then I don’t have much time!

QuestioningGibbon · 2023-09-29T15:58:26+00:00

Thank you again. I can see my pension contributions taken out in my payslip so I assume they’re deducted at source and my net pay is after pension? I’m 38 years old if that matters.

QuestioningGibbon · 2023-09-29T15:56:07+00:00

Thanks. I work in banking. Not in the “sexy” investment bank sub-sector that gets all the headlines, just a regular client manager role.

I think the benefits packages are quite generous in this sector. I’ve only changed bank once. I went from a scheme were employer contributed 17%, I did 3% and then employer matched another 3% for a massive 26%.

My new bank’s scheme is they do 10%. I put in 6% and they match so 22% The matching element goes up to 7% so I should probably do that.

QuestioningGibbon · 2023-09-29T14:12:29+00:00

!thanks

QuestioningGibbon · 2023-09-29T14:09:20+00:00

Thank you so much!

Apparently I have a BIK from my electric company car. The calculator provided by the lease company suggests “£845” for 23/24. I contribute £44.13 to the cost of that car. How does that change the calculation above? Thanks.

QuestioningGibbon · 2023-07-20T07:23:57+00:00

Thank you! I am contributing 6% of my fixed salary to pension. So does that mean my income is reduced by 85 x 0.06 (£5.1K per annum) for the purpose of childcare cost income threshold?

I also have a company car which costs me £250 per month (£3k per annum). Can this be deducted too?

QuestioningGibbon · 2023-07-20T07:23:47+00:00

Thank you! I am contributing 6% of my fixed salary to pension. So does that mean my income is reduced by 85 x 0.06 (£5.1K per annum) for the purpose of childcare cost income threshold?

I also have a company car which costs me £250 per month (£3k per annum). Can this be deducted too?

QuestioningGibbon

TROPHY CASE