Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

    • peppapig14
    • By peppapig14 12th Mar 18, 7:41 AM
    • 22Posts
    • 0Thanks
    Tax credit and pension contributions
    • #1
    • 12th Mar 18, 7:41 AM
    Tax credit and pension contributions 12th Mar 18 at 7:41 AM
    I currently only claim tax credits, I pay £23 per month for my company pension. I now have the option of paying an additional £38 per month and my company will make matched contributions.
    I have entered the revised amount of pension contributions ( 61 instead of 23 ) onto the tax credit calculater expecting my estimated tax credit amount to decrease, however it increases- is this correct?
Page 1
    • sheramber
    • By sheramber 12th Mar 18, 12:33 PM
    • 4,322 Posts
    • 3,253 Thanks
    • #2
    • 12th Mar 18, 12:33 PM
    • #2
    • 12th Mar 18, 12:33 PM
    If you pay £38 more pension payments then your net income is ls £38 less, so your tax credit increases
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

3,744Posts Today

6,978Users online

Martin's Twitter