DAD.info
Forum - Ask questions. Get answers.
Welcome to the DAD.Info forum: Important Information – open to read:

Our forum aims to provide support and guidance where it can, however we may not always have the answer. The forum is not moderated 24 hours a day, so If you – or someone you know – are being harmed or in immediate danger of being harmed, call the police on 999.

Alternatively, if you are in crisis, please call Samaritans on 116 123.

If you are worried about you or someone you know is at risk of harm, please click here: How we can help

SIPP classed as inc...
 
Notifications
Clear all

SIPP classed as income?

 
(@Anonymous 76869)
New Member Guest

I have a SIPP which I am not taking from yet yet as I am too young. It is worth about 220k. Will thatchers classed as an asset notional or other I'm one which would be taken into account for income purposes? It is in an investment wrapper woth the stocks and shares and the value goesxup and down, obviously it makes or loses money each year, is that classed as income?

I also have a second property which I rent out, will they takr the value of that asset and put a figure on it for CM or just the rental income? 

Thank you

Quote
Topic starter Posted : 05/09/2024 11:07 am
(@dadmod2)
Illustrious Member

hi, am not too sure about SIPPS. CMS may take it into account as it generates income. With property, they would consider the rental income, if it exceeds £2500 per year. All depends whether these are disclosed, or if ex partner makes CMS aware and seeks variations. theres more information in their guides about asset variation/notional income:

 

https://researchbriefings.files.parliament.uk/documents/CBP-7770/CBP-7770.pdf

 

ReplyQuote
Posted : 05/09/2024 5:51 pm
(@hisdadness)
Active Member Registered

Shouldn’t include a SIPP as an asset for notional income unless you are of an age to draw from said SIPP.

Rental income as per Bill337

ReplyQuote
Posted : 07/09/2024 7:33 am
(@brurkej)
New Member Registered

For your SIPP, it won’t usually be considered income until you start taking withdrawals. However, the value might be considered an asset depending on the situation. Regarding your rental property, typically, only the rental income will be considered for Child Maintenance, not the value of the property itself. It's always best to check specific regulations or consult a financial advisor to get accurate advice for your situation

ReplyQuote
Posted : 08/09/2024 11:36 am
Share:

Pin It on Pinterest