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Adjusting estimated PAYE income to account for Private Pension Contributions
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Manch
Posts: 4 Newbie

I have recently started paying into a private pension and reduced my contributions to my employers scheme to the minimum. I am a higher rate tax payer so will need to claim tax relief on my private pension contributions via self assessment. My question is.. is it acceptable to reduce my estimated annual PAYE income to account for my planned private pension contributions? That way I can take advantage of the tax relief now rather than having to pay the tax and claim it back next year.
Thanks
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Manch said:I have recently started paying into a private pension and reduced my contributions to my employers scheme to the minimum. I am a higher rate tax payer so will need to claim tax relief on my private pension contributions via self assessment. My question is.. is it acceptable to reduce my estimated annual PAYE income to account for my planned private pension contributions? That way I can take advantage of the tax relief now rather than having to pay the tax and claim it back next year.
Thanks
But you can claim extra relief provisionally using the new form on gov.uk. Ensuring your estimated earnings are accurate on gov.uk is key to making sure you receive the correct extra relief. Which will be via a tax code change for the current tax year.
https://www.gov.uk/guidance/claim-tax-relief-on-your-private-pension-payments0
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