{"id":1317,"date":"2024-05-02T00:00:00","date_gmt":"2024-05-01T23:00:00","guid":{"rendered":"http:\/\/duffyregan.co.uk\/index.php\/2024\/05\/02\/claim-tax-relief-on-pension-contributions\/"},"modified":"2024-05-02T00:00:00","modified_gmt":"2024-05-01T23:00:00","slug":"claim-tax-relief-on-pension-contributions","status":"publish","type":"post","link":"http:\/\/duffyregan.co.uk\/index.php\/2024\/05\/02\/claim-tax-relief-on-pension-contributions\/","title":{"rendered":"Claim tax relief on pension contributions"},"content":{"rendered":"<p>You can usually claim tax relief on private pension contributions worth up to 100% of your annual earnings, subject to the overriding limits. Tax relief is paid on pension contributions at the highest rate of income tax paid.<\/p>\n<p>This means that if you are:<\/p>\n<ul>\n<li>A basic rate taxpayer, you get 20% pension tax relief.<\/li>\n<li>A higher rate taxpayer, you can claim 40% pension tax relief.<\/li>\n<li>An additional rate taxpayer, you can claim 45% pension tax relief.<\/li>\n<\/ul>\n<p>The first 20% of tax relief is usually automatically applied by your employer with no further action required if you are a basic-rate taxpayer. If you are a higher rate or additional rate taxpayer, you can claim back any further reliefs on your self-assessment tax return.<\/p>\n<p>The above applies for claiming tax relief in England, Wales or Northern Ireland. There are some regional differences if you are based in Scotland.<\/p>\n<p>There is an annual allowance for tax relief on pensions of &pound;60,000. This limit remains unchanged in the new 2024-25 tax year. There is also a rule that allows you to carry forward any unused amount of your annual allowance for three tax years.<\/p>\n<p>The lifetime limit for tax relief on pension contributions was removed with effect from 6 April 2023 and has now been abolished.<\/p>\n<!-- -->","protected":false},"excerpt":{"rendered":"<p>You can usually claim tax relief on private pension contributions worth up to 100% of your annual earnings, subject to the overriding limits. Tax relief is paid on pension contributions at the highest rate of income tax paid. This means that if you are: A basic rate taxpayer, you get 20% pension tax relief. A [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1317","post","type-post","status-publish","format-standard","hentry","category-uncategorised"],"_links":{"self":[{"href":"http:\/\/duffyregan.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/1317","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/duffyregan.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/duffyregan.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/duffyregan.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=1317"}],"version-history":[{"count":0,"href":"http:\/\/duffyregan.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/1317\/revisions"}],"wp:attachment":[{"href":"http:\/\/duffyregan.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=1317"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/duffyregan.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=1317"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/duffyregan.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=1317"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}