Pension contribution to help qualify for student grant

tinker1

I am self employed aged 56. I have been told by my accountant if I make a pension contribution equal to my total earned income I can set this all off against my income on my child tax credits application form thereby giving me the equivelant of zero income and so qualifying me for the maximum child tax credit.
I also have two children at uni so does the same principle apply ...i.e. can I get my children the maximum non repayable grant by paying all my income into a pension fund? All sounds too good to be true if I can do this!!

johnllew

Yes and yes.

jamesd

You are making it less likely that you will get state benefits in the future, so it's not benefit only for you.