My employers contributions... and HMRC
SteveyJC
Posts: 346
Forumite
Hi All, My employer pays 9% into my pension. It's a defined contribution pension with standard life.
I'm a 40% tax payer, but upon looking on the Standard Life app, it says for example:
Employer: Net £487.50
+ 487.50
Your payments. Net 476.67
+ 595.84
So, I can see where my payment has increased by 20% (and I can claim a further a 20% through my tax return. But what about my employer contribution - can I claim a further 20% on it? Do I tell HMRC when doing my tax return that I have made total contributions of (487.50+595.84) x 12?
Thanks, Steve
I'm a 40% tax payer, but upon looking on the Standard Life app, it says for example:
Employer: Net £487.50
+ 487.50
Your payments. Net 476.67
+ 595.84
So, I can see where my payment has increased by 20% (and I can claim a further a 20% through my tax return. But what about my employer contribution - can I claim a further 20% on it? Do I tell HMRC when doing my tax return that I have made total contributions of (487.50+595.84) x 12?
Thanks, Steve
if i had known then what i know now
0
Comments
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You cannot get tax relief on an employer contribution, only on your gross contribution. That is the figure you give HMRC.0
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On a side note, depending on how your company operates (if there aren't a lot of minimum wage employees), its worthwhile suggesting that your employer set up salary sacrifice. They would save themselves employers NI. You would save employee NI. And you wouldn't need to do a tax return for tax relief (not sure if you do the tax return for other things as well).0
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