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Tax relief on Tax code for Higher Rate Taxpayers for Pension contributions
InTheRed
Posts: 164 Forumite
Hi!
I have only just discovered this and am not sure if I have just been a numpty for not discovering it sooner or whether this is not generally known and advertised by our friends at the revenue and taxes.
If you are a higher rate tax payer and pay into a pension scheme and therefore get relief at 22% you can claim the difference between the higher rate tax ie 40% and the 22% relief given and the difference will be refunded in your tax code notice (P2).
For the last tax year 5th April 2006 the tax relief will be in tax code, if you write to your tax office and inform them of your pension contributions.
For the up to the previous 6 tax years, if you write to your tax office with your contributions they will refund the difference in a cheque.
Hopefully this is of some use to somebody
I have only just discovered this and am not sure if I have just been a numpty for not discovering it sooner or whether this is not generally known and advertised by our friends at the revenue and taxes.
If you are a higher rate tax payer and pay into a pension scheme and therefore get relief at 22% you can claim the difference between the higher rate tax ie 40% and the 22% relief given and the difference will be refunded in your tax code notice (P2).
For the last tax year 5th April 2006 the tax relief will be in tax code, if you write to your tax office and inform them of your pension contributions.
For the up to the previous 6 tax years, if you write to your tax office with your contributions they will refund the difference in a cheque.
Hopefully this is of some use to somebody
February Grocery Challenge 262.50/250.00 - overspend - oh no!
March GC 0/300.00
Weight loss goal - lose 14 lbs by May 18th 2016 - so far 3 lbs lost
March GC 0/300.00
Weight loss goal - lose 14 lbs by May 18th 2016 - so far 3 lbs lost
1
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