I and wife sent R40s to HMRC

polymaff

oldwiring wrote: »

I shall do what @BoGoF suggests, but what really galls is the removal of the transferable allowance for the current 17/18 year seemingly (to me) on the assumption that a chargeable event will repeat itself. We now have no insurance policies.

Don't feel picked upon. HMRC's "stealth" strategy is being applied across the board.

oldwiring

$£&@+ Their automatic call system! But apparently anything about the R40 cannot be queried until after 11 October, having been sent on 6 September.

BoGoF

Does the P2 defenitely show the transferred allowance has been removed?

oldwiring

Put it this way! It was on earlier P2s.

I don't suppose I can deal with the P2 until I've dealt with the R40 response..

BoGoF

But the reduction in code could be the underpaid tax for 2016/17 being coded out.

Your personal tax account should show an estimate of your income for 2017/18 - what does it show. If too high you can amend it

sheramber

If the transfer has been disallowed for 2016/17 that ay have stopped the transfer.
you may have to apply again for 2017/18

oldwiring

@ sheramber I had wondered, if reapplication might be required.
As initial permission for the transfer had to be submitted by the spouse with spare Personal Allowance, I'm guessing she have to do the honours?

oldwiring

@BoGoF The estimates for my two work pensions and state pension are ~ £500 too high, but my bank account yesterday shows a credit of a very similar amount, of course usefully with no reference, our account being joint.

The P2 also "Less adjustment for estimated tax yiu owe this year £1087". I can't square that with the £115 mentioned earlier. But no mind!

How confusing! I think that I'll wait to see if it becomes clearer, and also get a picture of what income the investments produced in the first half.

In meantime I'll review my wife's account. Was it only interest that changed to being non taxable in 2016/7 to £1000?