How do I claim the government’s tax top ups?
We’ve got you covered!
For basic-rate taxpayers, Compound automatically claims the government’s tax top-up for you and adds it directly to your pension. This usually takes around 6 to 11 weeks from your payment date, as HMRC processes the tax top-up.
If you’re a higher-rate or additional-rate taxpayer, Compound will still handle your basic rate tax top-ups automatically, but you’ll need to claim the extra tax relief yourself through your Self Assessment tax return.
Remember, only personal contributions qualify for tax top-ups - not payments made directly from a limited company.
Tax relief rules may vary depending on individual circumstances, and future rates may change based on UK tax regulations.
