Reclaim tax

redmalc

Hi all
I have been doing self assessment for years but I have received correspondence from the revenue advising me not to complete self assessment from this year.
I am paying £1000 per month into a company pension via a salary sacrifice scheme which is ok,but also I pay a further £700 into a personal pension scheme,I am a 40% tax payer and my accountant sorted the figures out for claiming the additional tax relief previously but now what is the procedure given no self assessment
Thanks

atush

You just call HMRC and tell them about your pensions and they will adjust your tax code to take care of the 40% relief. the BR relief is automatically applied in your Personal pension.

zagfles

Or you can just ignore the letter and do SA anyway, I've done that a few times. Though as above if the pension is the only thing you need to tell them about (no interest or gift aid etc?) you could just write to them. I found doing SA almost as easy and it makes sure everything is right at the end of the year.

jamesd

Writing or phoning is easy. So is SA for this but if you tell them in advance what you expect to pay in during the tax year they will adjust your tax code to give you the relief during the tax year. That beats waiting for it.

greenglide

Did they tell you not to complete self assessment or did they tell you that you didn't need to?

If they tell you you that it isn't mandatory you can still continue doing it.

A couple of hours, once a year, no brainer really.

tigerspill

redmalc wrote: »

Hi all
I have been doing self assessment for years but I have received correspondence from the revenue advising me not to complete self assessment from this year.
I am paying £1000 per month into a company pension via a salary sacrifice scheme which is ok,but also I pay a further £700 into a personal pension scheme,I am a 40% tax payer and my accountant sorted the figures out for claiming the additional tax relief previously but now what is the procedure given no self assessment
Thanks

I was advised when I started work many years ago to ALWAYS do a SA no matter what.
Over nearly 30 years this has turned out to be very good advice.
Virtually every year the HMRC have my tax wrong. I can't actually remember a single year when they got it right.
Over the years my wife and I have received many many thousands in tax back which we would never have had had we not completed SA.
Our taxes aren't even that difficult. one of us isn't even a HR tax payer.
Between is we got over £1000 back this year and last.
I ignore the requests not to do a SA.

SA is very simple so if I were you I would complete one.