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Pension deductions for TC purposes...
jjcb119
Posts: 3 Newbie
I've read a few threads on here already, but there are so many different terms so I'd like someone to clarify for my own situation please...
I pay into an auto-enrolment pension. Pay in after tax deducted through PAYE and then receive tax relief on the payments. Currently 3% and will be going up to 5 in April (technically its 4% and the tax relief makes it 5).
The term they use on the working sheet is "personal pension"; does auto-enrolment fall into this category or is this referring to a scheme one would set up personally...??!!?
My question is - is this contribution indeed deductible from income for Tax Credit purposes? (I know I can't deduct employer contributions). I think I would deduct the amount including the tax relief (x100/80??). If someone could clarify that would be great. Always good to get advice on here and not have to listen to that hold music only to not get a straight answer....
I pay into an auto-enrolment pension. Pay in after tax deducted through PAYE and then receive tax relief on the payments. Currently 3% and will be going up to 5 in April (technically its 4% and the tax relief makes it 5).
The term they use on the working sheet is "personal pension"; does auto-enrolment fall into this category or is this referring to a scheme one would set up personally...??!!?
My question is - is this contribution indeed deductible from income for Tax Credit purposes? (I know I can't deduct employer contributions). I think I would deduct the amount including the tax relief (x100/80??). If someone could clarify that would be great. Always good to get advice on here and not have to listen to that hold music only to not get a straight answer....
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