Pension contributions and tax years

okydoky

Quick one - if I contribute late in the tax year, say March 2018 for the 17/18 tax year but the actual tax uplift isn't paid by HMRC until say May 2018, does my gross contribution for the 2017/18 tax year include the tax relief or not?
Thanks in anticipation.

Linton

If you contribute in March 2017 surely it's for the 2016/2017 tax year.

A net contribution you make of say £16K is regarded as a gross contribution of £20K in the 2016/2017 tax year, the fact that the tax refund turns up later is irrelevant.

okydoky

Yes sorry i did edit it to March 18 to make sense!!

So for things like tax credits, the fact that the HMRC uplift comes in the next tax year, doesn't matter and the gross contribution is deemed to have been made in that year.

Think I've got it, thanks for the reply and apologies for the initial confusion.