>> Forgot to ask...
>>
>> If using prior years, do you get tax credit for the top up contributions? To
>> put it crudely invest £1000 get £400 back or £1400 invested or is it just
>> the original capital in to the pot?
>>
For prior years you usually contribute gross, and then get the tax relief via your tax return into your back account, unless the contribution is made though payroll. Even then, as a 40%/45% taxpayer you still need to declare on your tax return to get the full tax relief as depending how it’s set up you might only relief at the basic rate automatically. If your employer will support you contributing via salary sacrifice (ie out of untaxed income) then you obviously won’t get or need tax relief. They’ll save employers Ni (13.8%?) as well which some will either pass on to the employee or split with them in some proportion. Or they might keep it to themselves.
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