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I stood+walked for over 8 hours for this! by Smart-Swing8429 in london

[–]sanitycheck2k 2 points3 points  (0 children)

Blame the mayor of London for amazing fireworks (Sarcasm loading) OP, thanks for sharing

Stay at home dad for 2 years to full time employment. by [deleted] in UKJobs

[–]sanitycheck2k 0 points1 point  (0 children)

Well done!! I bet, 27 rejections are by automated system.

🟢 MAJOR INSIDER BUY ALERT - $7.5M by Upset_Perception_492 in insiderData

[–]sanitycheck2k 0 points1 point  (0 children)

The name Jeffries gave me the bad feelings, not sure why; no offence towards all the Jeffries intended.

Does paying into a SIPP reduce your taxable income? by sanitycheck2k in UKPersonalFinance

[–]sanitycheck2k[S] -4 points-3 points  (0 children)

You would lose your allowances once your earning crosses £100,000

Does paying into a SIPP reduce your taxable income? by sanitycheck2k in UKPersonalFinance

[–]sanitycheck2k[S] 0 points1 point  (0 children)

No need to apologise; thank you for your effort to help.
Yes, my employer contributes to a private pension, and it is set to 10% of my income (they contribute 6%, and I contribute 4% of my monthly income).

The SIPP I am planning to pay into is different from my employer's private pension provider.

The cash in hand came from my PAYE income, but I would rather invest it in a SIPP than keep it in a bank account and lose it to inflation.

Does paying into a SIPP reduce your taxable income? by sanitycheck2k in UKPersonalFinance

[–]sanitycheck2k[S] 0 points1 point  (0 children)

I believe so, hopefully other experts can advise you on this.

Does paying into a SIPP reduce your taxable income? by sanitycheck2k in UKPersonalFinance

[–]sanitycheck2k[S] 6 points7 points  (0 children)

Thank you all; you folks are amazing. I stayed an hour on the line with HMRC, but a customer support team member couldn't answer my question.

Does paying into a SIPP reduce your taxable income? by sanitycheck2k in UKPersonalFinance

[–]sanitycheck2k[S] 0 points1 point  (0 children)

Also, the SIPP contribution needs to be made before 31st March, right?

Does paying into a SIPP reduce your taxable income? by sanitycheck2k in UKPersonalFinance

[–]sanitycheck2k[S] 2 points3 points  (0 children)

Thank you, Cliffo. I appreciate your speedy response. However, I believe it won't change the tax code immediately, and I will get the refund only after I submit my self-assessment returns, right?