How much tax relief will you get on your pension contribution?
The Government gives you tax relief on any pension contributions you pay into a pension scheme. This tax relief, irrespective of earnings, is at the basic rate of 22%. Higher rate taxpayers receive relief of 40%, with the excess being claimed through self-assessment.
Either enter the net amount you pay into your plan or the gross amount your plan receives. This calculator will tell you how much basic rate tax relief your contribution receives.
For further information about tax relief on pension contributions, please click here.
From 6 April 2008, basic rate tax is to reduce to 20%. This will reduce affect the level of tax relief available.
