Share this content
1

PAST 3YRS ANNUAL PENSION TAX ALLOWANCE

Is the tax year on a SALARY SACRIFICE PENSION dependent on the PAYSLIP or the PAYMENT

Didn't find your answer?

In the closing MAR2020 payroll an employee opted to have additional funds deducted and paid into the company SALARY SACRIFICE PENSION SCHEME in addition to the normal contribution for the month. This was to try to utilise the unused pension allowance from the previous three years.

The payslip shows the deduction at source in 2019/2020

If the company is delayed slightly in making the payment to the provider will this change which tax year(s) the additional funds can be used in?

Replies (1)

Please login or register to join the discussion.

avatar
By NBWNBW
02nd Apr 2020 12:26

Yes, I believe it will. My understanding is that the contribution has to be in the pension before the end of the tax year.

Thanks (0)
Share this content

Related posts