SIPP tax return?

sevenhills

I have just received an email saying this, If you haven’t completed your tax return yet, make sure you include the contributions you made to your SIPP and any other pensions in the 2020/21 tax year (6 April 2020 to 5 April 2021).
If you pay tax at a higher rate, it could help reduce your tax bill significantly.

If you’ve forgotten to include these details, and you completed your tax return online, you can still log back in and make amendments before the deadline on 31 January.

I work for my local authority on an hourly rate, not filled in a tax form for years. Do I need to?

eskbanker

What was your taxable income and how much did you contribute to pensions during the year?

sevenhills

eskbanker said:

What was your taxable income and how much did you contribute to pensions during the year?

I haven't looked at one of my payslips for many months, but I earn around £18k per year, have contributed around 6% to my local government pension fund and less than £5k to my SIPP.

Maybe a little more into the SIPP, because I transferred money from my ISA. I will have a look.

zagfles

You're nowhere near higher rate tax so you don't get any extra tax relief on SIPP contributions. Declare them if you do a tax return anyway, but if you don't you don't need to and you won't get any extra tax relief.

If you're in Scotland might be different as they have different tax rates.

sevenhills

zagfles said:

You're nowhere near higher rate tax so you don't get any extra tax relief on SIPP contributions. Declare them if you do a tax return anyway, but if you don't you don't need to and you won't get any extra tax relief.

If you're in Scotland might be different as they have different tax rates.

Not sure why they sent me the email, perhaps they send one to all their SIPP account holders.

zagfles

sevenhills said:

zagfles said:

You're nowhere near higher rate tax so you don't get any extra tax relief on SIPP contributions. Declare them if you do a tax return anyway, but if you don't you don't need to and you won't get any extra tax relief.

If you're in Scotland might be different as they have different tax rates.

Not sure why they sent me the email, perhaps they send one to all their SIPP account holders.

Was it HL, I've just got one too. It's just a reminder in case you pay higher rate tax, they don't know what rate of tax you pay.

sevenhills

zagfles said:

Was it HL, I've just got one too. It's just a reminder in case you pay higher rate tax, they don't know what rate of tax you pay.

Yes, I don't pay any attention to keeping records, I would be stuck if I had to fill one in.

NedS

sevenhills said:

zagfles said:

Was it HL, I've just got one too. It's just a reminder in case you pay higher rate tax, they don't know what rate of tax you pay.

Yes, I don't pay any attention to keeping records, I would be stuck if I had to fill one in.

Oh dear. It is your responsibility to ensure you pay the correct amount of tax every year. How are you going to ensure that if you don't pay any attention to keeping records?

https://www.gov.uk/government/publications/hmrc-issue-briefing-ensuring-the-correct-tax-is-paid/ensuring-the-correct-tax-is-paid