Do company pension schemes automatically give you 40% tax relief if you are a higher rate tax payer ?
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If you pay higher rate tax and have a company pension, is 40% tax relief on your contribution automatically applied (added) or do you need to claim the difference between the basic ...show more
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Answer:
Your taxable pay is automatically reduced by the amount of your contributions. Therefore you don't pay tax on it.
6EJJTEZVRSBYZMLRITBEM7NT3U at Yahoo! Answers Visit the source
Other answers
Yes this should automatically happen . The wages department will know from the tax code / earnings etc just what level of tax to deduct . If you are unhappy then give your wages department a ring , I am sure they will explain.
Scobill
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