The Student Room Group
Uni students - Complete our survey >>
Uni students - Complete our survey >>
Uni students - Complete our survey >>

SIPP Contribution Gross or Net?

Hi
My son will be studying medicine from September 2020. He Just completed his Finance application and we as parents have received emails to complete this application by providing our Income. I am a self Employed and Have contributed a sum of money in Private Pension (SIPP). Now for SIPP if i contribute £5000, Government contribute £1250 so the total contribution in my pension is £6250.
My question is that when i provide how much pension contribution I have made, Do i need to provide the net Contribution (£5000) or Gross pension contribution (£6250)
Many thanks
Original post by ksh1972
Hi
My son will be studying medicine from September 2020. He Just completed his Finance application and we as parents have received emails to complete this application by providing our Income. I am a self Employed and Have contributed a sum of money in Private Pension (SIPP). Now for SIPP if i contribute £5000, Government contribute £1250 so the total contribution in my pension is £6250.
My question is that when i provide how much pension contribution I have made, Do i need to provide the net Contribution (£5000) or Gross pension contribution (£6250)
Many thanks

Hi there, we always require the gross.
Thanks, Isaac.
I submitted and overlooked to include £12k net personal pension lump-sum contributions (£15k gross). I submitted a correction but in the meantime my son got his figures. This was the only change. He then got a correction and his allocation had been reduced! This is clearly not in line with other posts where SFE state household income is decreased by any lump sum payments. I know for next year ;-)

Quick Reply

Related discussions

Latest

Trending

Trending

Articles for you