Pensions Tax Relief Tax Year End Quiz
Check your answers
Test your knowledge
1. How much tax relief does a member earning £11,000 a year get on making a £1,000 contribution to their net pay workplace pension scheme?
a. 0%
b. 20%
c. 40%
d. 45%
2. How much can someone earning £200,000 a year personally put into a pension as a gross amount and obtain tax relief?
a. £40,000
b. £40,000 (less anything their employer has put in)
c. £160,000
d. £200,000
3. What is the rate of tax relief for an individual with £110,000 of salary making a net £8,000 contribution to a relief at source scheme?
a. 20%
b. 60%
c. 40%
d. 50%
4. If a higher rate tax paying employer sacrifices their salary (all in IHT band), what is the extra saving they get compared to RAS?
a. 20%
b. 2%
c. 12%
d. 52%
5. How much tax relief is gained by someone with £49,500 of earnings, £500 of savings interest who has encashed an offshore bond for a £50,000 gain over ten years if they pay £4,000 net to a Relief at Source pension?
a. 50%
b. 120%
c. 220%
d. 551%
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