Can I claim Pension Costs as an Expense?

Personal Pensions

If the pension is a personal pension plan (not in the name of your business) then this should not be recorded as a business expense. This is a personal tax issue and is not related to your business.

You will need to provide details of pension payments in your personal tax return.


Business Pensions

If the pension plan belongs to the company then it should be recorded as a business cost.  You should ensure the pension payments come from your business account and not your personal account.

Please seek further advice from us if your business does have a pension and we can then account for it correctly.