Pension Tax Relief Rules - Previous Years

hugheskevi

You could make retrospective contributions using a Retirement Annuity Contract up to 2006 (Retirement Annuity Contracts were replaced by personal pensions for new pension contracts in 1988, although existing contracts continued).

Have a look at a self-assessment form, and check where it goes into pension contributions. You will see there is no choice about retrospective contributions.

I have no faith in HMRC's telecentre operatives at all. I'm afraid their telecentre people have very little understanding of tax, particularly when it comes to pensions (and in fairness, given the amount they are paid I don't expect any expertise, but they are too hasty to give advice about things they do not understand which they should refrain from).

jem16

DoDa wrote: »

I am glad I don't employ snakey as my tax advisor!

Snakey's correct though.

I have just spoken to HM & Revenue PAYE & Self Assessment department and I can make a retrospective pension payment for the 2010/2011 tax year and claim back my higher rate tax as I described my friend doing in my original post.

That is true provided you actually made a pension contribution in 2010/11 but did not claim higher rate tax relief. However, as numerous people have said, you cannot make the contribution now and claim tax relief on it for 2010/11.

So either the HMRC call operator hasn't a clue or your question was badly worded.

So I will split my £25K SIPP payment between the 10/11 and 14/15 tax years ensuring I get 40% tax relief on the full amount.

Then you will be making what amounts to a fraudulent claim, albeit unknowingly.