Hi, I'm self-employed and I pay a private pension which gets tax relief at source - how do I log it in QB online (under which category etc)?

dermotb · ‎June 15, 2019

IamjuViel · ‎June 15, 2019

Hello there, @dermotb.

Private pension contributions are tax-free up to certain limits. Usually, you can get a tax relief worth up to 100% of your annual earnings. Just ensure your provider is registered with HM Revenue and Customs (HMRC).

On the other hand, QuickBooks Self-Employed complies with the HMRC’s available SA103F Categories. However, the ability to categorise personal pension contribution is not yet available. What you can do for now is to categorise it as Personal Expense. For more detailed information, you may check this article: SA103F Categories.

Also, I’d recommend consulting with your accountant so you’ll be properly in categorising your personal contributions.

For more insights, you may check these articles:

Keep me posted if you have other questions. I’m always here to help.

View solution in original post

IamjuViel · ‎June 15, 2019

Hello there, @dermotb.

Private pension contributions are tax-free up to certain limits. Usually, you can get a tax relief worth up to 100% of your annual earnings. Just ensure your provider is registered with HM Revenue and Customs (HMRC).

On the other hand, QuickBooks Self-Employed complies with the HMRC’s available SA103F Categories. However, the ability to categorise personal pension contribution is not yet available. What you can do for now is to categorise it as Personal Expense. For more detailed information, you may check this article: SA103F Categories.

Also, I’d recommend consulting with your accountant so you’ll be properly in categorising your personal contributions.

For more insights, you may check these articles:

Keep me posted if you have other questions. I’m always here to help.

brent_mused · ‎November 28, 2023

Hi, is this sorted yet? There's nothing clear on the website as to how to easily set up and log our private pension contributions in Quickbooks. Surely this must be quite a standard thing to ask. Please can someone explain how to do it?

I have two pensions I pay into - one through where I work regularly, and one through St James Place. I need to set these up so they show on my tax return correctly.

Thanks

Mark

Ashleigh1 · ‎November 28, 2023

Hello Brent_mused, thanks for posting on this thread, there is still no specific category for pension contributions in self-employed, you will have to categorise this as a personal expense.

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Hi, I'm self-employed and I pay a private pension which gets tax relief at source - how do I log it in QB online (under which category etc)?