We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
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
- 
            Ring HMRC - you might well be put on self-assessment regime, particularly in view of foreign income.0
 - 
            You possibly owe US State income tax so can claim this as a credit on the foreign pages.0
 
This discussion has been closed.
            Confirm your email address to Create Threads and Reply
Categories
- All Categories
 - 352.3K Banking & Borrowing
 - 253.6K Reduce Debt & Boost Income
 - 454.3K Spending & Discounts
 - 245.3K Work, Benefits & Business
 - 601K Mortgages, Homes & Bills
 - 177.5K Life & Family
 - 259.1K Travel & Transport
 - 1.5M Hobbies & Leisure
 - 16K Discuss & Feedback
 - 37.7K Read-Only Boards