Further to this point, I am just about to make my pension contributions for this year.
As I have other personal income I am going to put 8k in personally to get 2k in tax relief taking it to 10k
Then I was going to put in 10k from my business (which I understand I have to set up a bank to bank transfer and let them know so they don't add in the tax relief) and I save some CT.
Question...
What's to stop me putting 10k down as pension payments in my accounts, but transferring the money directly to myself and then sending it to the pension fund where by default they'll add in 20% tax relief (thus saving my self CT and also sneakily getting some extra tax relief)
How would anyone know?
As I have other personal income I am going to put 8k in personally to get 2k in tax relief taking it to 10k
Then I was going to put in 10k from my business (which I understand I have to set up a bank to bank transfer and let them know so they don't add in the tax relief) and I save some CT.
Question...
What's to stop me putting 10k down as pension payments in my accounts, but transferring the money directly to myself and then sending it to the pension fund where by default they'll add in 20% tax relief (thus saving my self CT and also sneakily getting some extra tax relief)
How would anyone know?
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