How do I claim my 25% tax free on self assessment

lollynerd

Hi All,
I just started my first online self assessment as a drawdown pension user (for 19/20).
After all the data is entered the calculation is overcharging me on tax as it isn't allowing for my 25% tax free. I can't see anywhere on the online forms where I make this claim.
Do I just take off the 25% myself? e.g. if I drewdown £20K, do I just say I earned £15K? I don't want to appear to be defrauding HMRC.
Also, I am waiting for Aviva to respond to my request for my P60. Maybe it appears on there?
Thanks in advance.

Albermarle

You get the 25% tax free from the pension provider , completely separate from your normal tax .
You can get it all at once , in stages etc . depending on what option you have chosen for drawdown.
It sounds like you had better call Aviva for some clarification .

dunstonh

I can't see anywhere on the online forms where I make this claim.

That is because you don't. Its not something you declare to HMRC as the pension provider does it.

 e.g. if I drewdown £20K, do I just say I earned £15K? I don't want to appear to be defrauding HMRC.

Only the 75% is declared. Most providers separate the payments when made to your bank account and have a P60 available should you need it.  On the Aviva platform, they separate payments as 75/25.

lollynerd

Thanks Albermarle and Dunstonh,
Problem sorted. I got my P60 from Aviva and all became clear. They already removed the tax free amount and charged tax on the remainder (post allowance).
Thanks again.