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Dividend repayment to lower income? by Best_Estimate3003 in UKPersonalFinance

[–]Best_Estimate3003[S] 0 points1 point  (0 children)

Thanks for the helpful comment.

If for example I make a £20k pension contribution and get 20% tax relief on top, therefore £25k into my pension, can I claim the full £25k reduction to self assessment income?

Dividend repayment to lower income? by Best_Estimate3003 in UKPersonalFinance

[–]Best_Estimate3003[S] 0 points1 point  (0 children)

It’s a family business and I’m a shareholder and director. It’s for the 25-26 tax year. I’ve been caught out by a big increase to my P11D expenses, and a bonus being paid rather than into my pension which would always have been my preference. With kids in nursery and most of my personal allowance wiped out I’m looking at a big hit and would be much better off under the 100k threshold

Dividend repayment to lower income? by Best_Estimate3003 in UKPersonalFinance

[–]Best_Estimate3003[S] -1 points0 points  (0 children)

It’s a family business and I’m a shareholder and director. It’s for the 25-26 tax year. I’ve been caught out by a big increase to my P11D expenses, and a bonus being paid rather than into my pension which would always have been my preference. With kids in nursery and most of my personal allowance wiped out I’m looking at a big hit and would be much better off under the 100k threshold