Post by mogish on Apr 11, 2023 16:12:41 GMT
As I approach retirement, I want to make use of full tax efficient means as possible. Ie pay less tax!
Would it make sense to do the following:
Pay entire years salary into Sipp ( basis tax payer) invest contributions into money markets fund, benefit from tax relief,use a maturing fixed bond to live of.
My thinking is:
Why get 4% taxable from another fixed rate bond( isa will be maxed for this year)when I can get 21% tax relief, 25% tax free at drawdown .
Does this seem logical? Or are there better ways to achieve this.
Btw dont want to start avc as it's too late.
Would it make sense to do the following:
Pay entire years salary into Sipp ( basis tax payer) invest contributions into money markets fund, benefit from tax relief,use a maturing fixed bond to live of.
My thinking is:
Why get 4% taxable from another fixed rate bond( isa will be maxed for this year)when I can get 21% tax relief, 25% tax free at drawdown .
Does this seem logical? Or are there better ways to achieve this.
Btw dont want to start avc as it's too late.
