Tax on inherited private pension pots
Private pensions can be a great way to pass on wealth, but tax implications depend on the age of the deceased and the type of pension. Some beneficiaries may receive funds
Pension tax-free lump sums
Turning 55 soon? From April 2028, the minimum pension access age rises to 57. If you are planning to draw your pension, you could take up to 25% tax-free. Make informed choices
Pension contributions, net pay or relief at source?
Your pension scheme type affects your tax relief. Workplace pensions offer tax benefits, but the method used, net pay or relief at source, changes how and when you get them. Your employer or pension provider should confirm which arrangement your scheme uses, and this will affect both your payslip
Claiming tax relief on pension contributions
Private pension contributions can attract up to 45% tax relief, if you know how to claim it. Use your £60,000 annual allowance wisely and carry forward unused relief from past
What is the pension’s Money Purchase Annual Allowance?
The Money Purchase Annual Allowance (MPAA) is a pension rule designed to prevent individuals from gaining double tax relief on pension contributions. It targets situations where someone withdraws money from their defined contribution pension pot and then reinvests it, effectively receiving tax
What if your pension contributions are excessive?
You can claim tax relief on pension contributions up to 100% of earnings, but exceeding the annual allowance may trigger charges. Tax relief is paid on pension contributions at the highest rate of income tax paid.
The first 20% of tax relief is usually automatically applied by your employer with no
Tax relief for employer contributions to a pension scheme
Employers can generally claim tax relief on contributions made to a registered pension scheme by deducting those payments as an expense when calculating their business profits. This reduces the amount of taxable profit and therefore lowers the overall tax bill.
For businesses involved in a trade or
Check your State Pension forecast
Your State Pension forecast shows how much you could receive, when you can claim it, and how to boost it by filling National Insurance gaps.
The Check Your State Pension forecast service provides a way to understand your State Pension entitlement. This is a joint service organised by HMRC and the