SIPP backdating the use of £40K pension relief

[AvsFan]

Yes you can

I am about to wrap up my Ltd and looking at shut down options. Am I correct that I can pay more than £40K into my SIPP if I have unused allowance from the last 3 years ? Is there any drawback to doing this that I am missing ? ( other than the money is tied up in the pension pot )

Yep you can do that. I myself have literally this week used carryback to pay more into my pension.
Just be aware you have done your calcs, otherwise you will be taxed. The amount is based upon tax year not your company year.
Although as correctly you have stated the money is tied up - major benefits are further reductions in CT.
If you can afford it, it's worth it.

Few years ago, wasn't earning enough to put into the pension pot, so allowance remained. Now on a good contract have used the full £40K allowance for this tax year and now using the carry back.

Hope that helps.

[BR14]

Yes I've got a many years active SIPP but haven't got enough of this years £40K left to put what is left in my Ltd into it. Just doing fag packet calculations while drinking wine and plotting my retirement. I'll be double checking on Monday !

happy days

[rootsnall]

if you had an active pension for the last three years, then yes.
if not, no.

Yes I've got a many years active SIPP but haven't got enough of this years £40K left to put what is left in my Ltd into it. Just doing fag packet calculations while drinking wine and plotting my retirement. I'll be double checking on Monday !

[BR14]

if you had an active pension for the last three years, then yes.
if not, no.

[rootsnall]

I am about to wrap up my Ltd and looking at shut down options. Am I correct that I can pay more than £40K into my SIPP if I have unused allowance from the last 3 years ? Is there any drawback to doing this that I am missing ? ( other than the money is tied up in the pension pot )