Tax reclaim on pension contribution

madeinireland_2

Hi,

For the first time ever I made a significant pension contribution around beginning of March into a newly opened SIPP with ii

At what point does the tax reclaim from HMRC that ii are supposed to claim on my behalf get added to my account as I'm still waiting ?

I've also been told that when I fill in my tax return to reclaim the additional 20% to make up the 40% then I should enter the total amount - the actual contribution and the 20% reclaim added together - is that true even though technically it does not look like I will receive the reclaimed tax until the new financial year ?

Thanks...

grey_gym_sock

i'm not 100% sure on the timing, but i think i read that contributions made no later than 5 march should have the tax credit added around 20 april or so, and then for contributions between 6 march - 5 april, it would be credited around 20 may or so.

yes, the box on the tax return asks for gross pension contributions, i.e. including the 20% tax added. a contribution count as made in the tax year you make the payment, even if the 20% is added in the following year.

madeinireland_2

Thanks for the reply - much appreciated