SA for 2018/19 Earliest date to file and tax reclaim

wadbanage

Does anyone know how early I can file my SA for the year ending 5 April 2019?

I want to reclaim some tax on a pension drawdown, my income including the drawdown is under the tax free threshold for the year.

If I submit my SA as soon as I can after 6 April 2019, will i get the overpaid tax back before Jan 2020?

Dazed_and_confused

I presume you mean year ending 5 April 2019.

Pretty sure you will be able to file it on 6 April 2019.

There are usually some amusing posts on here from people who file on 6 April and check their Self Assessment account every 5 minutes to see when their refunds are issued.

If I submit my SA as soon as I can after 6 April 2019, will i get the overpaid tax back before Jan 2020

You should do. If you actually claim the refund on the return (provide your bank details for it to be refunded to) then you could get it by mid April without too much problem.

Dazed_and_confused

Would an alternative option, to get the refund quicker, be to take a further small payment from the pension so the pension company includes the refund with the additional payment?

EdSwippet

wadbanage wrote: »

I want to reclaim some tax on a pension drawdown, my income including the drawdown is under the tax free threshold for the year.

Would HMRC form P55 do the job for you earlier than SA?

wadbanage

Dazed_and_confused wrote: »

Would an alternative option, to get the refund quicker, be to take a further small payment from the pension so the pension company includes the refund with the additional payment?

Now I am Dazed and Confused :beer: I understood that my pension company will only pay tax not repay it and that I have to reclaim via HMRC. Although I have only made one drawdown so I don't know this for certain.

Dazed_and_confused

The first drawdown payment usually prompts the issue of a tax code to the pension company so any future payments in the same tax year would be taxed in accordance with that and it would take into account the original payment.

You could ask the pension company if they have received a new tax code and if so what it is. It needs to be a cumulative code, not an emergency or non cumulative week1/month1 code for this to be an option.