Tax return Personal Pension Query

Tax return Personal Pension Query

Author
Discussion

Snatch1

Original Poster:

181 posts

88 months

Tuesday 19th December 2017
quotequote all
I have a personal pension plan and would like to know what figure I put into my tax return.

Do I enter the net contributions figure or do I enter the gross figure i.e my net contribution plus basic rate tax? The tax return form would seem to suggest it's the later.

I guess I then get a rebate/off set based on the difference between the basic rate and higher rate tax figure

Eric Mc

122,053 posts

266 months

Tuesday 19th December 2017
quotequote all
My software asks for the net amount i.e. the actual payment that left your bank account. However, the figure that shows in Box 1 of Page TR4 is the Grossed Up amount.

For example, an actual lump sum payment of £10,000 is entered on Box 1 Page TR4 as £12,500.