You may have received tax relief on the money you’ve put into your pension savings.
You will have received income tax relief at the highest rate you pay on your own contributions. For example, if you paid income tax at 20% during the 2018/19 tax year, then for every £100 saved into your pension, you will have paid £20 less tax to HMRC. This means a contribution of £100 would have cost you £80.
Find out more about tax on our member homepage.
You might be eligible for extra tax relief
If you didn’t pay income tax during the 2018/19 tax year, you won’t have received any tax relief on your contributions. This could apply to you if you earned less than £11,850 over the course of the year. The Government is considering how to stop this from happening in the future, but in the meantime, we can help you to claim tax relief.