Pension or Mortgage overpayments?

[Jockman]

Welshbeef said:

You have the 3% extra stamp duty to consider if buying a second property (even a static caravan!)

I thought they were exempt

Just lifted from HMRC site...

"The purchase of caravans, mobile homes and houseboats does not create the same issues for home owners and first time buyers as second homes or buy-to-let properties. Therefore, the government will exclude all purchases of caravans, mobile homes and houseboats from the higher rates."

Edited by Jockman on Friday 29th July 15:40

[oyster]

Welshbeef said:

oyster said:

grahamm said:

Welshbeef said:

And that's £40k a year so £120k you could drop into a pension and get 40% on that straight away so an instant £200k pot.
You can take out 25% tax free so £50k so in reality the £200k has only cost you £70k.... Now that's when you play the smart game.

I believe it is £40k per year gross (may have been £50k three years ago), so 3 years at £40k gives you a pot of £120k which has cost a 40% tax payer only £72k, or a 20% tax payer £96k. There may also be NI savings or dividend tax savings to take into account.

Thank you some real facts.

Although to be clear it's actually up to £170k this tax year (£50k from 2013-14, £40k from 2014-15, £40k from 2015-16 and £40k from this year).

Thank you some real facts.... You come across as a nice chap.

Ooops, think my wording wasn't right! It wasn't meant nastily Welshbeef.

[swatches]

Can the annual pension allowance be carried over even if the employer changes and all contributions have been employer contributions?
i.e. Is the annual allowance purely a personal limit?

e.g.
2013/2014 Employer A made £35K contributions (allowance is £50K)
2014/2015 Employer B made £40K contributions (allowance is £40k)
2015/2016 Employer B made £40K contributions (allowance is £40k)
2016/2017 Employer B made £40K contributions (allowance is £40k)
Can Employer B make another £15k contribution in 2016/2017 because of the unused allowance in 2013/2014?

[PurpleMoonlight]

Yes.