SIPP Tax relief and rebate

First Time Investing 🐣
1

Hi all,

Could someone confirm if these calculations looks ok?

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Basically it is for someone who paid high rate tax throughout 21-22 and now thinking to open a SIPP account before 5th April, 22 in order to claim 25% tax relief via freetrade SIPP and further 20% rebate on the tax paid over 50k via self assessment in Jan 23.

Thanks

2

Yes this is basically how SIPP works.

3

£127,000 - What do you work as?

4

If you earn 127k a year pay for advise from a tax advisor

1 Like
5

Thanks for the replies, they’re fictitious numbers of course :slight_smile: