Higher Rate Tax and Pension Contributions

[Toooldtoworry]

I will preface this by saying I have previously called HMRC and they have advised I don't need to self assess.

My base salary is at 20% but my job is heavily bonused so I am in the higher rate band - high 5 figures.

I am paying into a work, and a private pension. I don't want to increase my work pension contributions because I can never guarantee what my salary will be.

I've previously been told I need to self assess to claim the additional 20% relief on my private pension contributions and when I check the HMRC website it states the same but when I called they said different. Anyone know for sure?

Yes, you are right, if you are making private pension contributions and have paid higher rate tax within the same financial year, you will only get the extra 20% tax relief by completing a tax return. (I’m a financial planner)

You shouldn’t need to for your workplace pension assuming taken by salary sacrifice. Private pensions can only claim 20%, the rest is by self assessment. Sorry you were given bad information

Thank you for your help. I'll get in contact with HMRC and set up self assessment then.

Appreciate your reply (I also work in financial services - but mortgages and insurance as opposed to pensions).