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Tax return - pension relief over 100k

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1010
1010 Posts: 24 Forumite
Part of the Furniture 10 Posts Combo Breaker
Very lucky to have early over 100k in the past tax year and I’m due to do my self assessment. I’ve read that I can get tax relief on my pension but not sure how to about it on my tax return.

Could anyone help ?
Thanks

Comments

  • You may have already received the maximum tax relief possible.

    What type of pension contributions were you making?

    Salary sacrifice, net pay or relief at source are all common ways of contributing.
  • 1010
    1010 Posts: 24 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    Hi - my pension is through my employer (me 6%, employer 8%)
    thanks
  • BoGoF
    BoGoF Posts: 7,098 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    But how is it deducted pre or post tax.

    Salary sacrifice?
  • 1010
    1010 Posts: 24 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    Pre tax as salary sacrifice. Thanks
  • You don't include it on your tax return.

    There is no pension tax relief due.

    You haven't contributed to a pension, your employer has.

    You have already received the maximum possible tax relief possible by having a lower taxable pay figure on your P60. For example you have say a salary of £140,000. You give up £30,000 of your salary under salary sacrifice and your employer pays, and taxes you, on taxable income of £110,000. The £110,000 is shown on your P60 and you include that in your tax return. Not the "salary" of £140,000.
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