40% Tax Relief

boltonian

Great thanks. Unlikely to pay in more than that amount anyway, but good to know, if I had a lump sum to pay in, would be better staggering it over a few years to get the 40% benefit on all of it

Dazed_and_C0nfused

Not relevant to the OP, but worth noting that relief-at-source results in higher tax relief for those with taxable income below their Personal Allowance.

Agreed but we occasionally get posters who think they are only receiving basic rate relief on net pay contributions when they have say a main job on £40k (with a net pay pension) and a second job on £20k and they think they are only receiving basic rate relief at the main job and are entitled to some additional relief.

Albermarle

boltonian said:

Great thanks. Unlikely to pay in more than that amount anyway, but good to know, if I had a lump sum to pay in, would be better staggering it over a few years to get the 40% benefit on all of it

That would make sense.

daveyjp

OP.  Once you get to higher rate tax it is in your interests to do a tax return.

zagfles

daveyjp said:

OP.  Once you get to higher rate tax it is in your interests to do a tax return.

Why? There can be good reasons eg to get extra tax back on gift aid, or to pay extra tax if interest over £500. Or RAS pension conts but it seems OP is net pay so no need for this.