How do I receive tax relief via the relief at source method?

 

Relief at source is when The People’s Pension (or any other pension provider) claims back tax relief on your pension savings from the government. The basic rate of tax is 20%, therefore if your minimum contribution is £100, you’ll pay in £80 and you’ll get another £20 in the form of tax relief.

This tax relief is added directly to your pension pot. If you pay a higher (40%) or additional (45%) rate of tax on a portion of your earnings, you can claim the claim the extra 20%/25% via a Self-Assessment tax return.

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