Pension contributions maxed - what next?

brandburner

Since IR35 took hold I've been contracting via an umbrella rather than my limited company and funnelling most of my pay to my SIPP pension, since that unlocks in (yikes!) a few years.

Now my contributions are maxxed out for the year (including carry-forward for previous years) so looking for the most tax-efficient next step for my umbrella PAYE income.

What are the popular moves here?

TomFromCrunch

brandburner Hi Brandburner! Welcome to the Crunch Chorus Community Forum! Glad to have you here.

Sadly I'm not an expert on this but I've just had a chat with our accountants and they mentioned that one of the options you might choose is investing the maximum amount of £20,000 in a tax-free ISA. It does sound like you'd benefit from speaking to an investment advisor who can help choose the right option based on your specific circumstances and your appetite for risk.

Hopefully the other forum members will be able to advise based on their own experiences!

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