I am one of two directors of a small private limited company that we are currently negotiating to sell as a going concern prior to retirement. It is likely the proceeds of the sale will amount to some £400,000 for each director, which will be liable to capital gains tax, but should qualify for entrepreneurs' relief. I would like to know if there would be any benefit with regard to tax relief if we were to put a proportion of this into our already existing self-invested personal pensions (Sipps). Is this allowed and, if so, would the contributions be eligible for any type of tax rebate to reclaim tax in any way ? Failing this, is there another tax-efficient means of moving a proportion of this money into our respective pension funds?

You can put any amount you like into your Sipp, subject to the lifetime allowance, currently £1.65m.