Can I get a tax rebate?

concerned43

Good evening
I am hoping someone on here can help.
I had a small private pension and an occupational pension when diagnosed with cancer. Both companies allowed final lump sum payments. Does anyone know if I can claim a tax rebate for the period of two years after the payments were made as I have not been able to work? I'm not on any state benefits and have no other income.

Dazed_and_C0nfused

Do you mean you want to claim tax relief for pension contributions or a refund of tax deducted from pension income?

Perhaps you could be a bit clearer about exactly what has happened?

sheramber

What tax have  you paid in  the two years after the payments were made.?

You cannot  carry forward tax deducted in one year to claim a refund of it n a later year.

If you were receiving payments in these two years you would have the benefit of your personal allowance but since you took the payments as a lump sum in one year you cannot get any benefit of the personal allowances for a later year against these payments.
 
 

sheramber

tamaraud said:

I don't think you should have any trouble getting a tax credit. As with the Fed, in most cases, S Corp profits are not tax-deductible, just transferred to a personal tax return.

No idea what you are talking about.

This is a UK site

tamaraud

I don't think you will have a problem getting a tax deduction. Usually, the profits are not tax-deductible, and they are just transferred to your tax return. But then again, in most states, you still have to file a tax return for the same reason. I recently found out that the state tax return generates its specific K1 for your income in the state. Also, each state is different depending on whether they charge a "minimum" state tax or not. So to know all the business privileges, I often visit

TadleyBaggie

tamaraud said:

I don't think you will have a problem getting a tax deduction. Usually, the profits are not tax-deductible, and they are just transferred to your tax return. But then again, in most states, you still have to file a tax return for the same reason. I recently found out that the state tax return generates its specific K1 for your income in the state. Also, each state is different depending on whether they charge a "minimum" state tax or not. So to know all the business privileges, I often visit

Again, this is a UK site. Your contributions are looking more and more like a post building spammer.