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drawings
Level 1

Allocation of personal pension

In Quickbooks self employed, how do I allocate personal pension payments in my accounts? 

1 REPLY 1
DebSheenD
QuickBooks Team

Allocation of personal pension

What a pleasure to have you here, @drawings.

 

I'd be happy to share some tips on how you can allocate personal pension payments in QuickBooks Self-Employed (QBSE).


The program's available categories consistently adhere to HMRC's tax policies and regulations. Typically, private/personal pension payments are categorized under tax reliefs in the self-assessment tax return.

 

To avoid discrepancies in your records, I recommend consulting an accounting professional in recording this transaction. They'll be the ones to determine the appropriate category to use so your self-employment taxes are correct. You can also visit our Accountants Near Me page to help find an expert.

 

Also, here's an article for you to read about SA103F box numbers, subcategories, and deductible/non-deductible expenses: About SA103F Categories.


We're available around the clock, so don't hesitate to return if you need further assistance with any other transactions. Stay safe and have a productive week ahead.

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