Net Adjusted Income and Paying into Pension

vishaljh

All,

I have a question regarding net adjusted income.

Assuming that in 2018/19, my gross income taking into account salary and benefits is 190k. That means I loose my Tax free allowance.

I have over 100k pension allowance taking into account this year and past 3 years (after looking at tapered allowance).

To be able to use my tax free allowance, is it as simple as paying 90k gross into my pension pot so that my net adjusted income is 100k which means I can benefit from tax free allowance.

Thanks in anticipation.

vishaljh

Anyone has any thoughts please?

DT2001

Try TPAS as they offer webchat. You can check your previous years entitlements, taper relief etc.
Then speak to HMRC to confirm your understanding.

I did salary sacrifice for a bonus after consulting IFA, accountant and corporate solicitor (to draw up forms). IMO it was worth it.

vishaljh

Thanks a lot.