Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Mon, 12 Feb 2024 20:46:35 GMT by
If you are unemployed, i believe you can pay in £2880 to a private pension and the government tops this up to £3,600. Could you pay in more than £2880 as long as you pay a pension charge via self assessment? For example, could you contribute £10,000 (which is topped up to £12,500) and then pay £1,720 as a pension charge via self assessment?
Posted Thu, 15 Feb 2024 17:00:33 GMT by HMRC Admin 5
Hi

No. the pension tax charge applies when you exceed the annual allowance and that is not the case for your scenario.

Thank you
Posted Thu, 15 Feb 2024 19:40:18 GMT by
Thanks - so what happens if you do pay more than £2880? How can you repay/address the overpayment?
Posted Tue, 20 Feb 2024 11:35:25 GMT by HMRC Admin 5
Hi TaxNewbie2024

You would first check with your pension company to tell them and they may issue the charge.if not, you will need to write in with details to HMRC.

Thanks

You must be signed in to post in this forum.