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Pension taken from pay - reclaim
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everyday7
Posts: 16 Forumite
in Cutting tax
Hello
I have an occupational pension. The pension is take from my pay, assume my salary is £2000 per month, the pension (£200) is taken from the £2000 and not from my netpay (i.e not from what is left when tax and national insurance is taken off).
However, do I need to submit something to HMRC to reclaim any of the tax from £200 per month i am paying into my pension.
I have an occupational pension. The pension is take from my pay, assume my salary is £2000 per month, the pension (£200) is taken from the £2000 and not from my netpay (i.e not from what is left when tax and national insurance is taken off).
However, do I need to submit something to HMRC to reclaim any of the tax from £200 per month i am paying into my pension.
0
Comments
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No. The tax has been taken into account in your net pay. This is normal for an occupational pension.0
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Hello
I have an occupational pension. The pension is take from my pay, assume my salary is £2000 per month, the pension (£200) is taken from the £2000 and not from my netpay (i.e not from what is left when tax and national insurance is taken off).
However, do I need to submit something to HMRC to reclaim any of the tax from £200 per month i am paying into my pension.
the 200 comes off your 2000 salary leaving 1800
you are then tax only on the 1,800 so the 200 is tax free and so there is nothing to reclaim0 -
No, you receive full tax relief at source.Stephen Covey once said that "when you teach once, you learn twice". That is the primary reason for my participation on the forums as an IFA.
Although I strive to provide accurate information in my posts, there may be the odd time when I fail. Yes I know it's hard to believe but even Your Hero can make mistakes. Apologies in advance.0
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