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Quick question about pension on Tax Return

Freecall
Posts: 1,328 Forumite


I should know this but if a lump-sum additional contribution is made to a public sector DB scheme to buy additional months/years (TPS in this case) of say £10,000, do I put £10,000 or £12,500 in Box 1 on the Tax Return?
I am not sure whether the scheme is claiming the tax back or I am.
I am not sure whether the scheme is claiming the tax back or I am.
0
Comments
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Do you mean Added Pension rather than additional months/years, as Added Years was a feature of legacy schemes and closed around 2008?
If you purchase by lump sum outside of payroll (eg via cheque or bank transfer), you do not receive any tax relief either via Relief at Source or net pay.
Therefore you need to enter the amount of the lump sum into box 3 of the Tax Reliefs section.1 -
Sorry, yes, Added Pension.
It was paid by bank transfer from taxed pay.0
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