Does carrying over annual allowance require a self assessment tax form?

nightowl22

Hello,
For the first time I'm in a position where my earnings in higher rate tax exceed the £40K annual allowance threshold. I'm therefore looking to carry over around £5K from a previous year. I understand that my employer will inform the Inland Revenue but can somebody tell me whether this would trigger my needing to fill out a self assessment tax form (which isn't necessary currently).
Thanks in advance

Albermarle

nightowl22 said:

Hello,
For the first time I'm in a position where my earnings in higher rate tax exceed the £40K annual allowance threshold. I'm therefore looking to carry over around £5K from a previous year. I understand that my employer will inform the Inland Revenue but can somebody tell me whether this would trigger my needing to fill out a self assessment tax form (which isn't necessary currently).
Thanks in advance

No not necessary to fill out a SA just for this . The recommendation though is to keep a copy of your calculation of the extra £5K in case anybody should ask . It is possible the pension provider will highlight that you have gone over the £40K allowance and you will have to call them to explain that you are doing it deliberately and not by accident.

Dazed_and_C0nfused

nightowl22 said:

Hello,
For the first time I'm in a position where my earnings in higher rate tax exceed the £40K annual allowance threshold. I'm therefore looking to carry over around £5K from a previous year. I understand that my employer will inform the Inland Revenue but can somebody tell me whether this would trigger my needing to fill out a self assessment tax form (which isn't necessary currently).
Thanks in advance

Don't quite follow the big in bold and where your employer fits into this.

What exactly is happening?

MDMD

Dazed_and_C0nfused said:

nightowl22 said:

Hello,
For the first time I'm in a position where my earnings in higher rate tax exceed the £40K annual allowance threshold. I'm therefore looking to carry over around £5K from a previous year. I understand that my employer will inform the Inland Revenue but can somebody tell me whether this would trigger my needing to fill out a self assessment tax form (which isn't necessary currently).
Thanks in advance

Don't quite follow the big in bold and where your employer fits into this.

What exactly is happening?

Presumably the OP is trying to pay in enough to reduce their pay down to the HR limit