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Posted Wed, 03 Apr 2024 10:07:13 GMT by Sophie Weids
My adjusted net income for 2023/2024 is £108,951. In order to get my earnings under £100k, do I need to put in £8,951 into my pension or can I put in 20% less as I believe the govt top this up by 20%? Then, I can claim the tax relief on whatever payment I make as its a singular one off payment? I need to make a payment by Friday to ensure I'm under the £100k so I do not lose my childcare. Thanks
Posted Fri, 12 Apr 2024 07:22:39 GMT by HMRC Admin 19 Response
Hi,

The grossed up figure for the pension if a higher rate tax payer and outside Scotland would be the net figure x 1.25, so if £8951 grossed up figure £11188.75.

Thank you.

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