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What are the tax relief amounts on pension contributions?

The following tax facts should be viewed as an indication of the rates and allowances available and relate to the current tax year (2024/2025) unless stated otherwise. Tax law is notoriously complex and we cannot replicate every rule, nuance or exemption here. Therefore you should not make, or refrain from making, any decisions based on this information alone. If you are in any doubt as to the suitable course of action we recommend you seek tax advice. Remember tax rules can change and depend on your personal circumstances.

Tax status Tax relief 2024/25* Net cost of £1,000 gross contribution 2024/25
Non-taxpayer (including children) and Scottish Starter rate 20% £800
Scottish intermediate rate 21%* £790
Scottish higher rate 41%* £590
Scottish additional rate 46%* £540
Basic rate taxpayer 20% £800
Higher rate taxpayer 40%* £600
Additional rate taxpayer 45%* £550

* Any tax relief above basic rate is restricted to the amount of tax paid at that rate. This assumes no other taxable income.

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