Is anyone able to clarify something for me regarding the above please?
I cashed in a couple of small pensions when I was ill so am limited to 4k per year contributions to my pension. I understand this limit is increasing to 10k per year, does anyone know when this change will come in?
My contributions are also limited to £3600 per annum as I have no earnings.
I'm considering getting a lodger and this income is disregarded for UC purposes. Does anyone know how income from a lodger is treated for tax purposes? Is it taxable income for the purpose of contributing to a pension? Or is it not considered income under the rent a room scheme where you can have £7500 tax free income so therefore not considered earnings for my pension contributions?
I'm sure I could have said that in a simpler way but hopefully someone can let me know or point me in the right direction. Thanks.