tag:blogger.com,1999:blog-6533494677366906459.post532426405267589241..comments2023-05-14T13:16:00.415+01:00Comments on DIY Income Investor : Retired? Get 25% Instant Return!Sisyphushttp://www.blogger.com/profile/11345967558482194349noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-6533494677366906459.post-88018588355436931552012-09-20T12:40:16.197+01:002012-09-20T12:40:16.197+01:00Hi TulipCraze,
Yes that's true - but this is ...Hi TulipCraze,<br /><br />Yes that's true - but this is not what I am suggesting:<br />a) you are retired (i.e. no longer working)<br />b) you have income from other sources (e.g. pre-existing investments)<br />c) a max of £2880 (grossed up to £3600)<br /><br />As the document you quote says:"Whereas PCLS recycling is restricted, income from both annuities and drawdown pensions can be recycled and the only effective limit to obtain tax relief is £3,600 per annum, or the member’s relevant UK earnings, if higher." Sisyphushttps://www.blogger.com/profile/11345967558482194349noreply@blogger.comtag:blogger.com,1999:blog-6533494677366906459.post-70373058632517256362012-09-20T08:34:38.930+01:002012-09-20T08:34:38.930+01:00This is "recycling". It will not surpris...This is "recycling". It will not surprise you to know that HMRC are against it. Their anti-recycling measures can't be planned around easily - and indeed one of their rules is in effect that if you planned to recycle, you will be penalised. <br /><br />http://www.scottishwidows.co.uk/Extranet/Literature/Doc/FP0289<br />TulipCrazehttps://www.blogger.com/profile/03279994663890333870noreply@blogger.com