Higher Income Tax - How to Claim Pension Tax Relief | Extra 20% Boost
Channel: Financial Madness
Date: 2021-10-25

Higher Income Tax - How to Claim Pension Tax Relief. In this video we understand how an individual who is a Higher Rate or Additional Rate Tax Payer can claim on the extra Tax Relief towards their Private Pension.
We understand how if the provider operates Relief at Source, Net Pay Arrangement or Salary Sacrifice affects if an individual needs to actively claim on the relief. 

Chapter Information (Higher Income Tax - How to Claim Pension Tax Relief ):
0:00 Introduction
0:50 How Tax Relief on Pension Work?
5:27 Why bother claiming on the extra Tax Relief?
5:50 Another Alternative: Salary Sacrifice
6:41 How to claim the extra relief
8:16 Claiming via Tax Return
12:31 Claiming via Phone or Post

🔹 Financial Madness - Salary Sacrifice Explained
https://youtu.be/CAXzBZM0M5g

🔹 HMRC: Contact Details Phone and Post
https://www.gov.uk/government/organisations/hm-revenue-customs/contact/income-tax-enquiries-for-individuals-pensioners-and-employees

🔹Gov.uk - Self Assessment Tax Return 2021
https://www.gov.uk/government/publications/self-assessment-tax-return-sa100

🔹Gov.uk - Self Assessment Tax Return 2021 (Help Document)
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/975548/sa100-2021.pdf

🔹 Gov.uk - Register for Self Assessment
https://www.gov.uk/register-for-self-assessment

🔹Gov.uk  - Self Assessment Deadlines
https://www.gov.uk/self-assessment-tax-returns/deadlines

🔹 Which? - Private Pensions
https://www.which.co.uk/money/pensions-and-retirement/personal-pensions/contributing-to-a-private-pension-explained/tax-relief-on-pension-contributions-explained-a27f53z7qg3f

🔹 Unbiased - Claiming higher rate tax relief
https://www.unbiased.co.uk/life/pensions-retirement/how-to-claim-higher-rate-tax-relief-on-pension-contributions

DISCLAIMER - Any advice or (statements perceived to be advice) given in this video and any other videos on my channel are for information purposes only, and does not act as financial advice.  Your  are fully responsible for your financial decisions. If you are in need of Financial Advice, please seek out a professional advisor. If your are unsure on how to do this, feel free to reach out to me and I am more than happy to guide you.

#PensionTaxRelief #Pensions #HigherIncomeTax