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Moving money from savings to pension

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  • Qyburn
    Qyburn Posts: 3,754 Forumite
    Fifth Anniversary 1,000 Posts Name Dropper

    Yes, but HMRC will then assume you will make the same pension contribution in subsequent tax years. So for the following year, HMRC will adjust your tax code so you get more take home pay instead. ( and no rebate will be due)
    If you intend to make significantly different contributions in future, you will need to inform them at some point.
    Last tax return covered that with an addition not asked in previous years. After the question ..

    "Payments to registered pension schemes where basic rate tax relief will be claimed by your pension provider"

    A supplementary question ..

    "Total of any ‘one-off’ payments in box 1"
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