ADDING PENSION CONTRIBUTIONS
Question asked by Tracy Dawn Talbot 4 weeks ago
IVE MANAGED TO SUBMIT MY FIRST QUARTLY UP DATE BUTI DIDNT SEE WHERE TO ADD MY PENSION CONTRIBUTIONS.PLEASE, HOW DO I ADD THEM NOW?
Hi Tracy,
Under Making Tax Digital rules, your quarterly updates are strictly designed to report a summary of your self-employed or property business turnover and expenses. Personal details like pension contributions or tax reliefs do not get reported every three months.
Instead, these figures are added at the very end of the tax year on your MTD Tax return account. You can open one if you haven't already by hovering over your business name at the top right > Add MTD Tax return. Once completed. at the year end, you will find a dedicated deductions and reliefs section where you can input your total personal pension contributions for the year to finalise your tax calculation.
Tommy
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