Taxpayers fail to claim higher rate pensions tax relief

According to Standard Life, a quarter of a million UK personal pension members who are higher rate taxpayers do not claim higher rate income tax relief on their pension contributions. Standard Life also warned that from 6 April 2010 the time limit on claiming higher rate tax relief on pension allowances is due to be reduced from six to four years.

Higher rate income tax relief is normally claimed on the self assessment return.