Tax advise on crossing 125K

[PensionAdvicePls]

Hi all - I'm after some tax advice please.

I'm currently on just over 115K and I've been putting anything over 100K in pension. I'm about to go up to 143K (thanks to a promotion - yay!) and I wanted to ask what are my best options?

Should I continue putting everything over 100k in pensions? I'm aware I have a 60K limit and I'll need to check if that's feasible. Or shall I just take it? It's tempting to take it and put the additional money in an ISA towards a house deposit (we need to move to a bigger house)

From a day to day finances perspective, I don't really need the additional money apart from being able to build a pot for house deposit/home improvements.

TIA!!

It depends if you need to reduce your salary to under £100k to maintain help with childcare. If not, just pay the tax.

Personally I'd be paying 60k or mire into pension using rollover allowance if you can and depriorise savings for the next while to get as much in your pension ahead on the changes in 2029.

Think of it a sliding your cash around.

Imo...
House prices are going no where so you arent racing to get on the ladder.
Id get the cash in a pension now while its tax efficient and get it compounding then prioritise building savings...

As above, but I would also look at every option your employer may offer for salary sacrifice - childcare costs, lease car, supermarket vouchers etc.
If you do not need the money now (or in savings) then pension is about as good as you are going to get at the moment.
In future life you can always change that.

I'm early 40s, married, 2 kids (secondary and primary aged), have a mortgage on a 3 bed semi detached in South east

From a day to day finances perspective, I don't really need the additional money
So you can afford to pay for professional advice.

You could maximise the salary sacrifice aspect until that all comes to an end (thanks Rachel).

I didn't realise mumsnet forums were only for those who can't afford professional answers for their queries - thanks for clarifying.

I know I can, but I can also explore views on an open forum, especially since I've seen other similar threads before. I'm clearly mistaken...

Put the 43k over 100k into your pension

What professional advice though? I’ve been looking for ages and can’t find the right people. I don’t want. A financial advisor who will try and sell me insurance or someone who wants me to invest in their fund.

Agreed. Im not sure why OP can’t ask for shared advice.

Ask them for what? That’s what I mean, what job?

I have been thinking lately a tax accountant would be the best bet but they may not be experts in planning or even avoidance.

Absolute madness to pay for financial advice for this. It’s just a pay rise OP is deciding what to do with

Given the changes to pension contributions (NI), I’d probably continue making large pension contributions - as you may not be able to do it so efficiently for much longer.

Otherwise it’s always just a ‘cash now or cash later’ question, unless you are losing childcare hours. So - if you don’t need the cash in the next decade… pension. If you do, take it.

Don’t let the tax system wag the dog.

Costatesco speaks sense. So does Martin Lewis.
Picking and paying for an IFA

I'm in the same boat- putting as much as I can into a pension before the changes come in

It’s to brag.