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Posted Thu, 01 Aug 2024 15:32:09 GMT by jetty
I am in a position to help my wife grow her own pension. If I was to give her a lump sum (taken from my own salary after tax) each year to pay into her private pension, is that permitted? If so, I understand she would receive basic tax relief from her provider upon paying it in, but would she be eligible to claim additional tax relief (she is a higher rate tax payer) in her self assessment as long as her payments are within the annual allowance threshold?
Posted Mon, 05 Aug 2024 13:55:51 GMT by HMRC Admin 10 Response
HI
There are no income tax implications on a cash gift.  If your wife can if she chooses, pay this into her pension scheme, she can also claim higher rate tax relief.

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