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Can I discontinue with self=assessment form?
SallySunshine
Posts: 813 Forumite
in Cutting tax
For the last few years, we have been living off interest on our savings. We were more comfortable claiming the tax back every year through self-assessment form on-line, as before that period we had a couple of properties rented out.
However I have, since July, been receiving my company pension, this is taxed at source with the code OT. i just assumed I would be able to claim part of this this back next April, although it seemed a large chunk out, when I'd have preferred it now.
Today I have received form P161, this it seems is because I have started to receive my pension and will enable HMRC to give the right tax allowance.
They are asking for the current monthly pension before tax, but I've only had two payments, and they do differ by quite an amount. Should I take the annual figure I was given and divide by 12?
They also want an estimate of (after tax interest)on savings etc for this tax year.
since i am using more of my savings for tax-free investment, and the current interest rate is so low, I can't see much of the tax interest being able to be reclaimed, especially now I'm receiving a pension. so will I still keep having to fill in tax forms?
However I have, since July, been receiving my company pension, this is taxed at source with the code OT. i just assumed I would be able to claim part of this this back next April, although it seemed a large chunk out, when I'd have preferred it now.
Today I have received form P161, this it seems is because I have started to receive my pension and will enable HMRC to give the right tax allowance.
They are asking for the current monthly pension before tax, but I've only had two payments, and they do differ by quite an amount. Should I take the annual figure I was given and divide by 12?
They also want an estimate of (after tax interest)on savings etc for this tax year.
since i am using more of my savings for tax-free investment, and the current interest rate is so low, I can't see much of the tax interest being able to be reclaimed, especially now I'm receiving a pension. so will I still keep having to fill in tax forms?
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