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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