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Posted Sun, 05 Jan 2025 14:01:52 GMT by Tweedlover
Hi there, For FY 24/25 I will earn around 140k of taxable income and so am thinking to make a 40k additional contribution to my pension to reduce tax liability and avoid the taper and effective 60% rate of tax. My pension is via my workplace and monthly payments are made pre tax. I would be making an additional contribution from my savings where tax had already been paid If I just specify this on my self assesment form, will the repayment be calculated for me by HMRC? Many thanks -
Posted Mon, 20 Jan 2025 09:30:08 GMT by HMRC Admin 17 Response

Hi ,
 
The payments made to your pension scheme pre tax, will count towards your £60,000 pension threshold. 

As long as your AVC payments keep you below that threshold, you can claim addtional tax relief on your tax return.

Thank you .

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