A Complete Guide to Declaring Pension Contributions for Tax Relief
Managing your tax reliefs efficiently is crucial when it comes to UK self-assessment, and pension contributions play a significant role in this process. In this guide, we’ll show you how to declare your pension contributions as an income source within the Pie Tax App.
Whether you’re contributing to your pension yourself or receiving contributions from an employer, our step-by-step instructions will help you accurately record these details. By following these steps, you can ensure your tax reliefs are correctly accounted for, making your self-assessment submission smoother and stress-free
Your Step-by-Step Guide
Follow these easy steps to ensure your tax reliefs are accurately recorded for your self-assessment:
Start by launching the Pie Tax App on your device.Tap on the chart that specifies 'All Incomes'.Open the App and Access All Incomes
On this page, you’ll see a summary of all your total income. To continue, tap the (+) button to add a new income source.Navigate Your Total Income
Next, select '+ Create New Income Source' to begin recording the specific income you wish to declare.Create a New Income Source
You’ll be prompted to choose the type of income you want to declare. Tap 'Tax Reliefs' to proceed.Select Tax Reliefs
Next, you’ll see various types of tax reliefs. Tap ‘Pension Contributions’ to continue.Choose Pension Contributions
At this stage, you’ll decide how to input your pension contributions. You can either connect the app to your bank account or enter the details manually.Select how you want to add your pension contributions data
If you choose to connect to a bank account: The app will redirect you to the Bookkeeping section, where you can reconcile all your pension contributions directly from a specific bank account.Reconcile on Bookkeeping
To enter manually, specify your pension contribution source by tapping 'Myself' for personal payments or 'From an employer' for employer contributions, then enter the exact amount.Enter Manually
After entering the details, you’ll be shown a summary of the information. Review everything carefully, then tap 'Next' to finalise the creation of this income source.Review Your Income Summary
Key Tips
Ensure your pension contributions are accurately recorded, reducing errors in your self-assessment submissions.Accurate Tax Relief Recording
Easily declare your pension contributions, helping you stay compliant with HMRC’s requirements for tax reliefs.Effortless HMRC Compliance
Manage all your income sources, including pension contributions, in one place, simplifying your self-assessment process.Streamlined Income Management
Frequently Asked Questions
How do I declare pension contributions as tax reliefs in the Pie Tax App?
To declare your pension contributions as tax reliefs, access your profile, navigate to 'All Incomes', and add 'Pension Contributions' under 'Tax Reliefs'.
Can I connect my bank account to add pension contributions?
Yes, you can connect your bank account in the Pie Tax App to automatically reconcile your pension contributions.
What if I prefer to enter my pension contributions manually?
You can manually enter your pension contributions by selecting 'Myself' for personal payments or 'From an employer' for employer contributions.
How do I review my pension contributions after adding them?
After entering your pension contributions, review the 'Income Summary' and confirm the details to ensure accuracy.
Is it possible to edit my pension contributions after they've been added?
Yes, you can return to the 'Income Accounts' section at any time to review and edit your pension contributions if needed.
