- This topic has 3 replies, 2 voices, and was last updated 15 years ago by
.
Viewing 3 posts - 1 through 3 (of 3 total)
-
Posts
-
Contributions to personal pension plans are ‘paid net of basic rate tax’
Can u explain that phrase for me?Well to my understanding it means that when you physically pay in £80 into your personal pension fund, tax man adds another £20. So you end up having on your pensions fund £100.
In other words, you pay in net amount into your pensions fund and tax man gross it up by adding the 20% (basic rate).
Somebody correct me if I am not right!!!
Viewing 3 posts - 1 through 3 (of 3 total)
- You must be logged in to reply to this topic.