• Paul Clifton

Higher earners not claiming pension tax relief

Updated: Sep 7, 2020

Just over a quarter of workers earning more than £41,500 fail to claim the full 40% tax relief they are entitled to on pension contributions, according to research from Prudential.

The provider said the average higher rate taxpayer is missing out on £1,255 a year in pension tax relief. Prudential said this mounted up to about £229m going unclaimed, with an estimated 182,500 taxpayers affected.

The company also claimed the figure could be higher, as an additional 15% of higher rate taxpayers with defined contribution pension schemes do not know whether they claimed their full relief.

Hundreds of thousands of extra people are expected to complete a self-assessment tax return for the first time, including people who have won compensation for mis-sold payment protection insurance (PPI) who are at particular risk of making errors on their returns, according to ACCA.


2 views0 comments

Contact Us

Socialise With Us

All Paul Limited

17 Longwood Crescent, Shadwell, Leeds LS17 8SR

Serving Alwoodley, Shadwell, Roundhay and more.

Telephone: 0113 225 2232

Email: Send us a message by clicking here.

  • LinkedIn App Icon
  • Facebook App Icon
  • Google+ App Icon
  • Twitter App Icon
  • YouTube App Icon

Skilled in

Sage 50 Accounts training


ACCA Accountants in Leeds

Leeds Accountants, making a difference

© 2021 by All Paul Limited.        All Paul Limited is a company registered in England and Wales with company number of 08367537.

Director: Paul Clifton