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SIPP Worth It For My Situation? Advice Please
Lee Smith
Posted: 09 March 2018 23:20:03(UTC)

Joined: 09/03/2018(UTC)
Posts: 3

I have got a large sum invested in companies as shares and receive my income exclusively as dividends.

As I am classified as a 'non-earner' (as I don't pay income tax, but tax on my dividend earnings) I understand the maximum I can contribute is £2,880pa into a SIPP.

I'm 48 years old now. Is it worth the hassle of setting everything up and managing it every year for the tax benefits I'll get for my annual £2,880 contributions. Advice welcome please.

I always max out my ISA allowance so can't shift the £2,880 there.

Thank you.
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