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Superannuation and Personal Pensions

NHS consultant is paid via PAYE - and is within the superannuation scheme.

He also has some private income (medical reports etc) - totalling about £8K per year - on a self-employed basis.

As well as the superannuation, he pays the standard £3,600 (£2,880 net) into a personal pension.  Is there any higher rate relief due on these latter contributions on the strength of his non-superannuable income?

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It depends...

The answer is, in theory at least, yes.

However, you need to check if the consultant is caught by the anti-forestalling rules (2010/11) and that the Pensions Annual Allowance of £50k hasn't been exceeded (2011/12).

Bear in mind that consultants are in the NHS defined benefits scheme, so you need to refer to the growth in the value of their benefits, not the contributions paid in the year. This is a complicated subject with specific calculations to perform - not for the ill-informed or the faint-hearted!

 

 

 

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