Tax paid on pension

Jessiepig

I don't know the full details but my husband has been paying tax on his pension contributions and has not idea how to go about checking and claiming it back. Any advice or help along these lines would be appreciated. He pays part and his employer pays part. Thank you

greenglide

my husband has been paying tax on his pension contributions

What makes you think that?

A company scheme?

Are the contributions paid from gross pay (where the tax relief is already given) or net pay where it is reclaimed by the pension company and added to the pension.

If it is paid from gross pay and he doesnt pay any tax there is nothing which can be reclaimed.

Is he a higher rate tax payer?

Jessiepig

Thank you. It's a pension with Scottish widows that was taken out privately and is just paid as a direct debit from his bank account. So this would be net pay and yes sometimes he is a higher tax payer

mania112

Unless something weird has happened, he will be getting tax relief at 20% added to his contributions. For every £100 contributed, it will cost him £80 and £20 is the tax relief.

If he has been making contributions as a higher rate tax payer he will need to complete a tax return to get the extra 20%. This part doesn't get paid into the pension but can be used against other expenses on the return or paid back as a rebate.

Jessiepig

Thank you for your help. Will investigate further. ��

greenglide

But you said that he pays into it and his employer does as well.

In the same personal pension?

alexank

I assume OP has been paying in for a good few years
How many years in the past can the higher rate component (when met) by claimed back?

Jessiepig

greenglide wrote: »

But you said that he pays into it and his employer does as well.

In the same personal pension?

No he has work pension but it's very small and a small pension with Scottish Widows. I think if he contacts them it might help

xylophone

The situation is that he has a pension to which he and his employer contribute and a personal pension with SW?

He should be receiving basic rate relief through SW - as a higher rate tax payer he will need to claim the higher rate relief through his tax return.

http://www.scottishwidows.co.uk/calculators/tax-calculator.html