youractualboss

Great, many thanks. So just to confirm, if i pay £5600 into my personal pension, that will reduce my taxable pay from £57,000 to £50,000, thereby meaning I won't need to repay a portion of my child benefit. Many thank

Hi, I am likely to have taxable income of approximately 57,000 this year. I have been paying into a personal pension and to reduce my taxable income to below 50,000 to avoid repaying any child benefit. When I enter the amount on my self-assessment I am aware that I enter the total contribution (my personal contribution + 20% from HMRC), but I don't know how the calculation is done. So my question is how much do I have to pay into the pension to get my taxable pay below 50,000 Will it be 7000 + (1750 hmrc contribution) = 8750, or Will it be 5600 + (1400 hmrc contribution) = 7000 Many thanks for any advice