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Personal pension

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Personal pension

  • This topic has 1 reply, 2 voices, and was last updated 2 years ago by AvatarJillyB.
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  • September 11, 2023 at 6:06 pm #691893
    Avatarwhydoyoucare
    Participant
    • Topics: 50
    • Replies: 46
    • ☆☆

    “If an employee in the UK contributes £2,000 (net) to their personal pension, and their employer contributes £7,000, how much will the employee’s income tax be reduced as a result of these contributions?
    My question: only the employee gross contribution into PPC is deducted right? The employer contribution only in occ pension counts not in PPC right?

    October 2, 2023 at 10:18 am #692734
    AvatarJillyB
    Keymaster
    • Topics: 0
    • Replies: 899
    • ☆☆☆☆

    Only the employees dedcution is allowable against the employees tax.~The company will get a dedcution from the CT comp for what they contribute

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