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First time higher rate tax payer - SIPP, foreign income, interest, charity
tsg20
Posts: 38 Forumite
in Cutting tax
The 2012-13 tax year was the first year that I was a higher rate tax payer. I made some contributions to a SIPP, which I'd like to claim tax relief on, and I also had a one-off payment for some work I did in the USA, which I haven't paid any tax/NI on at all, and I also made some charitable contributions, which I think (?) I can reclaim the extra gift aid on. I also have a small amount of interest on current accounts which I only paid tax at 25% on.
I haven't carefully calculated everything, but I think this will all work out as me owing a few hundred pounds. What do I need to do to get this all square? Do I just have to phone the tax office, or should I write a detailed letter?
Also, what is the best way to do this in future? I probably won't be making SIPP contributions for the next few years, but I will be making some random charitable donations and earning small amounts of interest every year, I imagine (and I guess that most higher rate tax payers do?). I may also have occasional one-off payments for foreign income.
I haven't carefully calculated everything, but I think this will all work out as me owing a few hundred pounds. What do I need to do to get this all square? Do I just have to phone the tax office, or should I write a detailed letter?
Also, what is the best way to do this in future? I probably won't be making SIPP contributions for the next few years, but I will be making some random charitable donations and earning small amounts of interest every year, I imagine (and I guess that most higher rate tax payers do?). I may also have occasional one-off payments for foreign income.
0
Comments
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Ring HMRC - you might well be put on self-assessment regime, particularly in view of foreign income.0
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You possibly owe US State income tax so can claim this as a credit on the foreign pages.0
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