- This topic has 1 reply, 2 voices, and was last updated 5 years ago by
Tax Tutor.
Tax Tutor.-
Posts
-
Chandan
- Topics: 24
- Replies: 36
- ☆☆
For personal pension scheme, I have noticed difference in the treatment of the pension contusions according to what terminology is used I.e paid or contributed. I have noticed that where it is mentioned that the amount is contributed the amount is not being grossed up and when it is mentioned that it is paid then it is being grossed up.
So is it correct to understand that it when a person contributes into a personal pension scheme then it is gross and no adjustment is required and if a person pays into a personal pension scheme then it’s net and needs to be grossed up?
Tax Tutor
- Topics: 2
- Replies: 3965
- ☆☆☆☆☆
When a person pays into a personal pension scheme the payment / contribution is ALWAYS paid net and therefore the gross figure must be computed!
In some questions however it states next to the amount in brackets (gross) meaning that they have already grossed up the amount paid/contributed
Contributions into occupational schemes are paid gross!
Chandan
Tax Tutor
- You must be logged in to reply to this topic.