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Pensions and high income benefit charge
skankingpigeon
Posts: 10 Forumite
Hi
I've only just discovered the option of reducing your income by paying into pension, and therefore keeping eligibility for child benefit (under 50k)
Is it possible to backdate pension contributions into prior years to allow me to reclaim the amount I had to pay back in child benefit?
Thanks!
I've only just discovered the option of reducing your income by paying into pension, and therefore keeping eligibility for child benefit (under 50k)
Is it possible to backdate pension contributions into prior years to allow me to reclaim the amount I had to pay back in child benefit?
Thanks!
0
Comments
-
No.
A lot of pension contributions don't necessarily reduce your income either.
They do reduce "adjusted net income", which is what the High Income Child Benefit Charge is based on but they don't reduce your taxable income.
LITRG has some useful info on their website.0
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