Personal Tax Tip 4 – Tax relief on pensions

If your income is more than £150,000 have you considered the impact of additional tax relief on your pension contributions?

Tip: Individuals with income in excess of £150,000 can claim a further 25% tax relief on pension contributions in addition to the 20% reclaimed by the pension provider, subject to meeting certain limits. Higher rate tax payers can still reclaim 20%.

Any questions?

If you would like to arrange a free meeting with a Liverpool accountant to discuss tax relief on your pension, either at our office or at your premises, please contact us on 0151 724 3960 or by email at [email protected].

Alternatively, you can use our website contact form.

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Added by Jon Davies

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