Tax Relief on pension payments

11/01/2018 08:53:57
’m self employed (I set up my business at the end of jan 16 and made a loss of the 16/17 tax year) and I’ve been paying into a small private pension. One of the questions asks for the pension payments and basic rate of tax. I have called but the person I spoke didn’t know anything about it.
Is this so I can claim a tax relief on my pension payments? If so as I have made a loss can I just enter it as £0.00 as I won’t need to claim a tax relief?
If I need to fill in an amount do I just put the amount I have been paying in total over the 12 months? And then somehow find out what if any tax I have paid? I’m so confused!
Thank you!
  • Catherine Newman
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Re:Tax Relief on pension payments

11/01/2018 09:03:38
You get relief at source when you pay it. You are only granted further relief if you are a higher rate taxpayer. It can be ignored unless you are claiming some kind of means tested benefits where the payments might reduce your assessable income for benefits.