I have got a large sum invested in companies as shares and receive my income exclusively as dividends.
As I am classified by HMRC as a 'non-earner' (as I don't pay income tax, but tax on my dividend earnings) I understand the maximum I can contribute is £2,880pa into a SIPP.
I'm 48 years old now. Is it worth all the hassle (and costs) of setting everything up and managing it every year for the relatively minor tax benefits I'll get for my annual £2,880 contributions. Advice welcome please.
I always max out my ISA allowance so can't shift the £2,880 there.
Thank you.
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