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Posted Sat, 05 Oct 2024 09:59:29 GMT by GCapelli
Hi, I would like some clarification about the following. Let's say that at the end of this tax year I will have received from my employer £8,307.04 (Taxable income); because of my tax free amount (£12,230) I have paid in taxes £1,049.40. NOTE: just for sake of clarity, my employment terminated in June and I am now a full time student without any income, therefore what earned until then will be the total of my taxable income for this year. I want to make some contribution into my private pension, and my questions are: - What is the maximum amount I can pay into my pension and have tax relief? is my taxable income of £ 8,607.04 OR the amount of tax paid divided by 0.2, therefore £1,049.40 / 0.2 = £5.245,2? Note: 0.2 comes from the 20% tax paid - what happened if I pay in my pension £20.000? Will I be taxed? Will I simply not receive any tax relief over the amount of tax I paid?? I look forward to your reply Mr capelli
Posted Fri, 11 Oct 2024 12:36:12 GMT by HMRC Admin 33
Hi,
This forum is for general queries only and is intended to help you self-serve. We are unable to provide specific advice tailored to individual circumstances.
You may wish to contact our team for advice
Self Assessment: general enquiries - GOV.UK (www.gov.uk)
Alternatively you may want to seek professional advice.
Thank you.
 
Posted Fri, 11 Oct 2024 20:19:30 GMT by GCapelli
Thanks. My intention was to give you all the details to make my question clear, but I understand your point. Let me try to rephrase it in general terms. Someone's relevant earnings are lower than their annual allowance. If this person pays into their pension an amount higher than their relevant earnings, but lower than their annual allowance, will this person have to pay tax? Thank you
Posted Fri, 18 Oct 2024 16:55:33 GMT by HMRC Admin 20 Response
Hi, 
Please refer to Tax on your private pension contributions
Thank you.

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