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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.

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ACCA Accountants in Leeds

Leeds Accountants, making a difference

© 2018 by All Paul Limited.        All Paul Limited is a company registered in England and Wales with company number of 08367537.

Director: Paul Clifton

  
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Business and staff entertaining - the tax consequences!

November 7, 2019

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Higher earners not claiming pension tax relief

January 4, 2014

 

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.

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