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  • FIRST POST
    • Jammy2611
    • By Jammy2611 8th Jan 18, 4:11 PM
    • 3Posts
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    Jammy2611
    Tax Return Help
    • #1
    • 8th Jan 18, 4:11 PM
    Tax Return Help 8th Jan 18 at 4:11 PM
    Hi guys,

    After abit of guidance for my tax return if possible, as I am abit lost.

    In 2016/17 year, I was paying into my companies pension (AEGON), which was £80 a month. Since that time, I left the company and set up on my own as a sole trader.

    I am in the process of filling in my tax return, and one of the pages asks if I received a UK State pension for 2016/17. Do I need to tick "yes" or "no" for this? As it was all through my employer at the time, I assume I don't have to pay any tax on this but could be wrong?

    Just to cover all basis, I requested a statement for 2016/17 from my pension provider (AEGON), and for 2016/17, I paid £847.64, which is the gross contribution.

    Any advice appreciated guys, if you need any more info please let me know as I might not have explained it well.

    Thanks.

    James
Page 1
    • MallyGirl
    • By MallyGirl 8th Jan 18, 4:13 PM
    • 2,271 Posts
    • 7,277 Thanks
    MallyGirl
    • #2
    • 8th Jan 18, 4:13 PM
    • #2
    • 8th Jan 18, 4:13 PM
    In 2016/17 year, I was paying into my companies pension (AEGON), which was £80 a month. Since that time, I left the company and set up on my own as a sole trader.

    I am in the process of filling in my tax return, and one of the pages asks if I received a UK State pension for 2016/17. Do I need to tick "yes" or "no" for this? As it was all through my employer at the time, I assume I don't have to pay any tax on this.
    Originally posted by Jammy2611
    you didn't receive any - you contributed - so tick No unless you have actually started receiving income from your pension alongside your new business
    • Jammy2611
    • By Jammy2611 8th Jan 18, 4:17 PM
    • 3 Posts
    • 0 Thanks
    Jammy2611
    • #3
    • 8th Jan 18, 4:17 PM
    • #3
    • 8th Jan 18, 4:17 PM
    That's great, thanks Mally.
    • Jammy2611
    • By Jammy2611 8th Jan 18, 4:43 PM
    • 3 Posts
    • 0 Thanks
    Jammy2611
    • #4
    • 8th Jan 18, 4:43 PM
    • #4
    • 8th Jan 18, 4:43 PM
    Sorry, one other thing if possible, I received a lump sum from my employer for the days that I did work in the month before I resigned, would I enter this into the "Redundancy and other lump sum and compensation payment" box under "Other UK Income?" Or would it need to be go under a different one?
    • Paul_Herring
    • By Paul_Herring 9th Jan 18, 9:06 PM
    • 6,201 Posts
    • 2,930 Thanks
    Paul_Herring
    • #5
    • 9th Jan 18, 9:06 PM
    • #5
    • 9th Jan 18, 9:06 PM
    That sounds more like pay (either normal because you worked for it, or in lieu of notice if you didn't,) not redundancy - especially since you say you left the company, not that they made you redundant.

    Especially if you paid tax and national insurance on it.

    Redundancy isn't taxed for the first £30K, e.g.
    Conjugating the verb 'to be":
    -o I am humble -o You are attention seeking -o She is Nadine Dorries
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