Tax Return Help

Jammy2611

Hi guys,

After abit of guidance for my tax return if possible, as I am abit lost.

In 2016/17 year, I was paying into my companies pension (AEGON), which was £80 a month. Since that time, I left the company and set up on my own as a sole trader.

I am in the process of filling in my tax return, and one of the pages asks if I received a UK State pension for 2016/17. Do I need to tick "yes" or "no" for this? As it was all through my employer at the time, I assume I don't have to pay any tax on this but could be wrong?

Just to cover all basis, I requested a statement for 2016/17 from my pension provider (AEGON), and for 2016/17, I paid £847.64, which is the gross contribution.

Any advice appreciated guys, if you need any more info please let me know as I might not have explained it well.

Thanks.

James

MallyGirl

Jammy2611 wrote: »

In 2016/17 year, I was paying into my companies pension (AEGON), which was £80 a month. Since that time, I left the company and set up on my own as a sole trader.

I am in the process of filling in my tax return, and one of the pages asks if I received a UK State pension for 2016/17. Do I need to tick "yes" or "no" for this? As it was all through my employer at the time, I assume I don't have to pay any tax on this.

you didn't receive any - you contributed - so tick No unless you have actually started receiving income from your pension alongside your new business

Jammy2611

That's great, thanks Mally.

Jammy2611

Sorry, one other thing if possible, I received a lump sum from my employer for the days that I did work in the month before I resigned, would I enter this into the "Redundancy and other lump sum and compensation payment" box under "Other UK Income?" Or would it need to be go under a different one?

Paul_Herring

That sounds more like pay (either normal because you worked for it, or in lieu of notice if you didn't,) not redundancy - especially since you say you left the company, not that they made you redundant.

Especially if you paid tax and national insurance on it.

Redundancy isn't taxed for the first £30K, e.g.