Claiming tax relief on contributions after retirement

mickyduck55

DRS1 said:

mickyduck55 said:

QrizB said:

mickyduck55 said:

I cannot find an option in the pensions section of my return to claim tax relief on money deposited direcly from my income ...

Are you a higher-rate taxpayer?

No I am not now Im retired, interesting point though, I could be so in theory would get 40% relief just by going over the threshold ?

Well if you are only £1 over the threshold you are not going to get 40% relief on the whole contribution.  You would need to be £3600 over the threshold to get the full benefit.

Say the threshold is 50270 and your gross contribution is 3600 you add the two together to get 53870.  If your income is under 53870 then you will only pay 20% on the bit between your personal allowance and the 53870 (ignoring any 0% rates on interest and dividends).

Thanks for clarifying

mickyduck55

I have contacted my pension provider and they do claim the relief on my behalf.  Entering £3600 in my return does not change my tax liabilty for the year and I now understand why.  Thanks for all the comments