AVC and joint asessment

Z

Zippy

Guest
I am about to top up my pension to my maximum 30%
contribution.As I am jointly asessed with my wife can
I claim high rate tax relief from both our incomes.

Regards
Zippy
 
> As I am jointly asessed with my wife can
I claim high rate tax relief from both our incomes.

I don't really understand what you mean by the above. If you have paid 42% tax on any income that is jointly assessed then you will get that back on the pension contribution. If the pension contribution exceeds the amount on which you paid 42% tax in the relevant year the you will get 20% tax back on the balance. Does this make sense?

On the other hand if you are asking if you can contribute 30% of your joint earnings to YOUR pension then this is not possible as far as I know as I believe that the 30% is reckoned on individual earnings even for married couples - i.e. you could contribute 30% of your earnings to your pension and she could contribute 30% of HER earnings to her pension.
 
Thank you for your reply.what I am really asking is if I can claim against my wife's 42% earnings
Regards
Zippy
 
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