1 min Read
30 Jul 2012

Written by Damien

Damien is one of the most widely quoted money and investment experts in the national press and has made numerous radio & TV appearances. He created MoneytotheMasses.com while working in the City when he became disillusioned with the way the public were left to fend for themselves because they could not afford financial advice.

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Reader Q: Can you claim tax relief on a lump sum pension contribution over a number of years?

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Reader Question:

If you pay a lump sum into a pension can you claim the tax relief over a number of years?

 

My response:

No you can't. The tax relief applicable to a lump sum payment is only applicable to the tax year in which the pension contribution was paid.

Obviously one way round this is to pay the lump sum in stages across different tax years.

Best wishes

I hope that helps

Damien

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