Keeping in 40% tax bracket...just!

[MooGlos]

Hi. First time poster, so I'm hoping I've got this in the right place.

I'm keen to maximise my pension contributions and benefit from 40% tax relief whilst it's still available.

In round figures, I earn £60k and have a company car which has a BIK of £9k in the 2019/2020 tax year.

Threshold for 40% tax is £50k for the 2019/20 tax year, so can I pay just less than £19k into my pension, thus ensuring that I stay just inside the 40% bracket and benefit from the more generous tax relief, whilst not wiping out too much of the child benefit payments, which get clawed back on incomes over £50k.

Is there anything I'm missing??!

[Jholm]

Assuming the provider claims relief, your payments to the pension would be net. It is the gross amount that increases your basic rate band so if you contribute £15,200, the gross amount would be £19,000. Based on these figures, you would be taxed on £50,000 all within basic rate and not liable to pay child benefit back.

Bear in mind your £40,000 annual allowances (gross) for each year. This includes employer contributions.