Reduce Taxable Income with Pension - NHS Pension Hacks Revealed!

Now, here's the thing. Most times, and we've tried this thing out with some consultants and also some in the registrars. So go and get your total reward statement. You could get that from your ESR electronic data and find out what is your total reward statement so that you can work out how much is already going into your NHS pension. Then you realize that for most people is not up to 60k. And then they did the next step that we talked about. Contact your NHS pension administration and tell them you want to put some extra money in your pension, basically because it's a way to avoid the 60 tax trap. Because if you have more money in your pension, then that means it reduces your taxable income and is a way of restoring your personal tax allowance. You get back your 12, 5, 7 0. I'm sure you understand what I'm saying, Priya. Yeah, yeah. So now, when they conducted a patient administrator, they weren't allowed to put in the whole money. Sometimes they will be allowed to put in £8,000 sometimes because basically, remember, your employer has to contribute as well. As you contribute money, they have to contribute. So that doesn't give you full agency. That could be one way to do it and I know a consultant who has done that and actually use the maximum extra contribution they can make. But they hadn't still hit their 60k, so they now had a sip to make a taco.