Originally posted by Runster
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If they earn nothing else this year, and there is just the £600k loan charge, the tax would be £255,600.
If they contributed the maximum £130k to the pension, the tax would be £197,100. A saving of £58,500.
The person would have to be able to come up with the following sum of money to do this.
Net pension contribution: £104,000 +
Self-assessment: £223,100
TOTAL: £327,100
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