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Carry forward figures gross?
2stixoftwixes
Posts: 107 Forumite
Hi
I am just about to make a contribution of £40k from my company into my sipp pension
I have some allowance to carry forward from previous years but I'm confused over the amounts because I used my personal allowance
2016/2017 tax year £6,432
The two figures in bold are contributions from my personal account
Do I use these figures or do I need to add tax relief (i.e Gross figure) onto them which I am presuming is 20% so £6,432 = £8040 and £6,720 = £8400
I am just about to make a contribution of £40k from my company into my sipp pension
I have some allowance to carry forward from previous years but I'm confused over the amounts because I used my personal allowance
2016/2017 tax year £6,432
2018/2019 tax year £6,720
The two figures in bold are contributions from my personal account
Do I use these figures or do I need to add tax relief (i.e Gross figure) onto them which I am presuming is 20% so £6,432 = £8040 and £6,720 = £8400
0
Comments
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You need to use the gross figures.Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!1
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Pension contributions are always treated as gross for HMRC.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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