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Hi , I hope you are good, Healthy and doing great
I saw a paragraph in notes which i am not sure if i comprehend correctly.
For personal pension scheme ( Basic Rate ) : As gross contribution exceed 3600 pounds ( see note above) then the taxpayer must have net relevent earnings for the tax year of atleast 10,000 pounds for the tax relief to be fully avaliable.
I think you referred to ” 8000 pounds into pension scheme and 2000 automatic relief by hmrc small example ”
Could you help me to understand? Im bit confused
Ill drop this link for the image of portion of notes : https://ibb.co/w6HwyWD
Is it referring to the : Basic rste relief id given st source of lower of : gross contribution or 100% of relevent earnings.
Also, Whatd the relevent earnings is : is it net or gross ?
Basic rate relief is given on the lower of – correct.
By the way – have you wantched the lecture?
NRE is grossThank you , Yes i have watched all lectures. Open tuition is my primary source of study.
But for december i only had one month to take all lectures and i barely finished syllabus on time ( couldn’t touch exam kit ) . So i ended up with 44 marks. I was planning to cancel exam but But was too late.In notes, It says ” taxpayer must have net relevent earnings for the tax year of at least £ 10,000 for tax relief to be fully available”
So i got confused with ut
44% is great given the amount of work that you could achieve in the time scale. You’ll pass for sure this time.
I think you might be a little confused. NRE can be any amount. (Page 92 is just an example)
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