Salary Sacrifice

Archerychick

Superhoopza said:

Archerychick said:

Superhoopza said:

Thanks all, I'll write a letter for the 2022-23 tax year and do a further one after 6th April 2024 for the previous year.

I just called them up with the details and they made the adjustments on the phone there & then. Received the refund a few weeks later

Do they not need to verify any information you gave them on the phone?

They could see what contributions I had made through payroll, so they checked the numbers with me there and then 

Superhoopza

Archerychick said:

Superhoopza said:

Archerychick said:

Superhoopza said:

Thanks all, I'll write a letter for the 2022-23 tax year and do a further one after 6th April 2024 for the previous year.

I just called them up with the details and they made the adjustments on the phone there & then. Received the refund a few weeks later

Do they not need to verify any information you gave them on the phone?

They could see what contributions I had made through payroll, so they checked the numbers with me there and then 

Ok thanks. I'll give them a call with my payroll contributions and then see if I need to write a letter to them.

Archerychick

Superhoopza said:

Archerychick said:

Superhoopza said:

Archerychick said:

Superhoopza said:

Thanks all, I'll write a letter for the 2022-23 tax year and do a further one after 6th April 2024 for the previous year.

I just called them up with the details and they made the adjustments on the phone there & then. Received the refund a few weeks later

Do they not need to verify any information you gave them on the phone?

They could see what contributions I had made through payroll, so they checked the numbers with me there and then 

Ok thanks. I'll give them a call with my payroll contributions and then see if I need to write a letter to them.

Recommend calling first thing when the lines open, you don't usually hold that long

Superhoopza

Archerychick said:

Superhoopza said:

Archerychick said:

Superhoopza said:

Archerychick said:

Superhoopza said:

Thanks all, I'll write a letter for the 2022-23 tax year and do a further one after 6th April 2024 for the previous year.

I just called them up with the details and they made the adjustments on the phone there & then. Received the refund a few weeks later

Do they not need to verify any information you gave them on the phone?

They could see what contributions I had made through payroll, so they checked the numbers with me there and then 

Ok thanks. I'll give them a call with my payroll contributions and then see if I need to write a letter to them.

Recommend calling first thing when the lines open, you don't usually hold that long

Cheers I'll give the live chat a go and if not then call them next week.

Dazed_and_C0nfused

Superhoopza said:

Archerychick said:

Superhoopza said:

Archerychick said:

Superhoopza said:

Archerychick said:

Superhoopza said:

Thanks all, I'll write a letter for the 2022-23 tax year and do a further one after 6th April 2024 for the previous year.

I just called them up with the details and they made the adjustments on the phone there & then. Received the refund a few weeks later

Do they not need to verify any information you gave them on the phone?

They could see what contributions I had made through payroll, so they checked the numbers with me there and then 

Ok thanks. I'll give them a call with my payroll contributions and then see if I need to write a letter to them.

Recommend calling first thing when the lines open, you don't usually hold that long

Cheers I'll give the live chat a go and if not then call them next week.

As we are now close to the start of the new tax year you should give them details of this year's contributions and an estimate for next year.

And don't forget, if you ever stop the RAS contributions and move to salary sacrifice you need to tell HMRC and get them to update your tax record with the final RAS figures and make sure they don't carry them on each year.

Saves a bill later down the line.

Superhoopza

Dazed_and_C0nfused said:

Superhoopza said:

Archerychick said:

Superhoopza said:

Archerychick said:

Superhoopza said:

Archerychick said:

Superhoopza said:

Thanks all, I'll write a letter for the 2022-23 tax year and do a further one after 6th April 2024 for the previous year.

I just called them up with the details and they made the adjustments on the phone there & then. Received the refund a few weeks later

Do they not need to verify any information you gave them on the phone?

They could see what contributions I had made through payroll, so they checked the numbers with me there and then 

Ok thanks. I'll give them a call with my payroll contributions and then see if I need to write a letter to them.

Recommend calling first thing when the lines open, you don't usually hold that long

Cheers I'll give the live chat a go and if not then call them next week.

As we are now close to the start of the new tax year you should give them details of this year's contributions and an estimate for next year.

And don't forget, if you ever stop the RAS contributions and move to salary sacrifice you need to tell HMRC and get them to update your tax record with the final RAS figures and make sure they don't carry them on each year.

Saves a bill later down the line.

Just spoke to them on webchat, got a refund sorted for 2022-23, took about 15 minutes to wait in the queue and was sorted within 10 minutes. They said they can change my tax code for this tax year but my work payroll will be done for Feb so I'd only see it in March so I will just get in contact on 6th April for this years.

I'll ask my employee (if I move to salary sacrifice) about whether they will contact HMRC. Otherwise I'll tell them myself.

Dazed_and_C0nfused

Superhoopza said:

Dazed_and_C0nfused said:

Superhoopza said:

Archerychick said:

Superhoopza said:

Archerychick said:

Superhoopza said:

Archerychick said:

Superhoopza said:

Thanks all, I'll write a letter for the 2022-23 tax year and do a further one after 6th April 2024 for the previous year.

I just called them up with the details and they made the adjustments on the phone there & then. Received the refund a few weeks later

Do they not need to verify any information you gave them on the phone?

They could see what contributions I had made through payroll, so they checked the numbers with me there and then 

Ok thanks. I'll give them a call with my payroll contributions and then see if I need to write a letter to them.

Recommend calling first thing when the lines open, you don't usually hold that long

Cheers I'll give the live chat a go and if not then call them next week.

As we are now close to the start of the new tax year you should give them details of this year's contributions and an estimate for next year.

And don't forget, if you ever stop the RAS contributions and move to salary sacrifice you need to tell HMRC and get them to update your tax record with the final RAS figures and make sure they don't carry them on each year.

Saves a bill later down the line.

Just spoke to them on webchat, got a refund sorted for 2022-23, took about 15 minutes to wait in the queue and was sorted within 10 minutes. They said they can change my tax code for this tax year but my work payroll will be done for Feb so I'd only see it in March so I will just get in contact on 6th April for this years.

I'll ask my employee (if I move to salary sacrifice) about whether they will contact HMRC. Otherwise I'll tell them myself.

They won't tell HMRC anything which would correct your tax code, that is your responsibility.

Superhoopza

Dazed_and_C0nfused said:

Superhoopza said:

Dazed_and_C0nfused said:

Superhoopza said:

Archerychick said:

Superhoopza said:

Archerychick said:

Superhoopza said:

Archerychick said:

Superhoopza said:

Thanks all, I'll write a letter for the 2022-23 tax year and do a further one after 6th April 2024 for the previous year.

I just called them up with the details and they made the adjustments on the phone there & then. Received the refund a few weeks later

Do they not need to verify any information you gave them on the phone?

They could see what contributions I had made through payroll, so they checked the numbers with me there and then 

Ok thanks. I'll give them a call with my payroll contributions and then see if I need to write a letter to them.

Recommend calling first thing when the lines open, you don't usually hold that long

Cheers I'll give the live chat a go and if not then call them next week.

As we are now close to the start of the new tax year you should give them details of this year's contributions and an estimate for next year.

And don't forget, if you ever stop the RAS contributions and move to salary sacrifice you need to tell HMRC and get them to update your tax record with the final RAS figures and make sure they don't carry them on each year.

Saves a bill later down the line.

Just spoke to them on webchat, got a refund sorted for 2022-23, took about 15 minutes to wait in the queue and was sorted within 10 minutes. They said they can change my tax code for this tax year but my work payroll will be done for Feb so I'd only see it in March so I will just get in contact on 6th April for this years.

I'll ask my employee (if I move to salary sacrifice) about whether they will contact HMRC. Otherwise I'll tell them myself.

They won't tell HMRC anything which would correct your tax code, that is your responsibility.

Ok got you, thank you.

Superhoopza

Thinking the best plan is:

Contact HMRC on 7th April, make the claim for higher tax relief for the 2023-24 tax year. Wait for that to be processed and refunded as to avoid complication. Then when refunded, move to salary sacrifice with my employer who have confirmed they offer it. I'll lose out on a move or two of higher tax relief from April until the change is enacted (probably around June payroll if HMRC take a few weeks to refund). 

Any flaws in this plan people can see? 

Superhoopza

Superhoopza said:

Dazed_and_C0nfused said:

Superhoopza said:

Archerychick said:

Superhoopza said:

Archerychick said:

Superhoopza said:

Archerychick said:

Superhoopza said:

Thanks all, I'll write a letter for the 2022-23 tax year and do a further one after 6th April 2024 for the previous year.

I just called them up with the details and they made the adjustments on the phone there & then. Received the refund a few weeks later

Do they not need to verify any information you gave them on the phone?

They could see what contributions I had made through payroll, so they checked the numbers with me there and then 

Ok thanks. I'll give them a call with my payroll contributions and then see if I need to write a letter to them.

Recommend calling first thing when the lines open, you don't usually hold that long

Cheers I'll give the live chat a go and if not then call them next week.

As we are now close to the start of the new tax year you should give them details of this year's contributions and an estimate for next year.

And don't forget, if you ever stop the RAS contributions and move to salary sacrifice you need to tell HMRC and get them to update your tax record with the final RAS figures and make sure they don't carry them on each year.

Saves a bill later down the line.

Just spoke to them on webchat, got a refund sorted for 2022-23, took about 15 minutes to wait in the queue and was sorted within 10 minutes. They said they can change my tax code for this tax year but my work payroll will be done for Feb so I'd only see it in March so I will just get in contact on 6th April for this years.

I'll ask my employee (if I move to salary sacrifice) about whether they will contact HMRC. Otherwise I'll tell them myself.

2 weeks later I got my P800. Requested an online refund, it shall take up to 5 working days. It's made me create an online tax account, which hopefully means the next tax year I won't have to 2 weeks (and probably a lot more around April 6th) and can do it all online.