[rɪˈliːf æt sɔːs]
Relief at Source is a method of receiving tax relief for contributions made to a pension scheme that have been made from after-tax income.
Relief at Source is a method of tax relief for people making contributions to their Pension scheme. It is only available for individuals making pension contributions from their after-tax income. However, pension contributions that are made before tax already include any tax that would have been paid on that income so it is pretty much the same result.
Pension providers automatically claim the basic tax rate tax relief and add it to the pension pot.
For individuals who pay the higher rate and Additional Rate, they will need to submit a Self Assessment tax return to claim the rest.
There are loads of different tax laws in the United Kingdom. IR35 is very important to freelancers and contractors but can be a little confusing. Here, we explain simply what IR35 is and who it can affect.
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Self-employed individuals can use two different methods to expense business vehicle costs. Here, we investigate the positive and negatives for both methods and which one might be right for you.
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