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michaelmensah
Level 1

How do you log private pension payments?

 
Solved
Best answer March 30, 2021

Accepted Solutions
KlentB
Moderator

How do you log private pension payments?

Hi there, michaelmensah.

 

I can share some tips on how you can track these payments in QuickBooks Self-Employed.

 

The available categories in the program are always aligned is aligned with the HMRC's tax policies and regulations. Usually, private/personal pension payments go into tax reliefs in the Self Assessment tax return. 

 

To ensure accuracy and 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.

 

In addition, here's an article that you can read to learn more about SA103F box numbers, subcategories, and the type of expenses you can/can't deduct: About SA103F Categories.

 

We're open here 24/7, so please don't hesitate to visit us again if you need more help in handling your other transaction. Stay safe and have a productive week ahead.

View solution in original post

1 REPLY 1
KlentB
Moderator

How do you log private pension payments?

Hi there, michaelmensah.

 

I can share some tips on how you can track these payments in QuickBooks Self-Employed.

 

The available categories in the program are always aligned is aligned with the HMRC's tax policies and regulations. Usually, private/personal pension payments go into tax reliefs in the Self Assessment tax return. 

 

To ensure accuracy and 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.

 

In addition, here's an article that you can read to learn more about SA103F box numbers, subcategories, and the type of expenses you can/can't deduct: About SA103F Categories.

 

We're open here 24/7, so please don't hesitate to visit us again if you need more help in handling your other transaction. Stay safe and have a productive week ahead.

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