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Child Tax Credits and personal pension payments

(8 Posts)
MsTeriousAura Wed 03-Jun-09 22:26:25

Message withdrawn at poster's request.

Ivykaty44 Thu 04-Jun-09 22:18:43

Yes it is right - they dont advertise the fact and never ask. This year is the first year I have said about my contributions - and then the chap on the other end went away to check and came back and said yes we deduct them.

It is due to the fact that pension contributions are tax free and it is the same with isa - if you have intrest from an isa, it doesnm't count as it is tax free.

LeninGrad Fri 05-Jun-09 09:41:39

Message withdrawn at poster's request.

ladylush Sun 07-Jun-09 12:15:34

What about a company pension? I've got an NHS one which is deducted automatically from my pay. Tbh, finding the CTC very confusing. Dh and my salary combined is over the threshold for claims but I wondered if childcare costs are taken into account as we will have two to pay for. Also the Inland Revenue questionnaire is based on my P60 salary but of course I won't be earning any way near as much during this financial year.

ChasingSquirrels Sun 07-Jun-09 12:25:58

company pension payments are usually deducted at source, reducing your taxale gross - so your P60 figure reflects your after pension contriution gross.

personal pension payments are made out of your net pay (and the pension provider reclaims the tax). In this case you take your P60 gross figure and deduct the grossed up pension contriutions you have made (ie not the amount you pay, you have to gross them up).

Just did mine yesterday.

Sorry aout typos, my key etween A and C doesnt work!

LeninGrad Mon 08-Jun-09 15:48:55

Message withdrawn at poster's request.

choccyp1g Mon 08-Jun-09 15:57:36

Pension contributions can also be deducted from your income when you claim certain allowances.. always worth mentioning if your income is borderline for some benefits.

LeninGrad Mon 08-Jun-09 16:28:52

Message withdrawn at poster's request.

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