40% Tax Payer - how do I claim my extra 20%

segovia

I paid 15K into my SIPP in the tax year 2023/2024 and received the 20% tax contribution via the provider, how do I claim the additional 20% as I was in a 40% tax band for the same period

MallyGirl

that should be handled by the taxman - did you declare the extra contribution?

Albermarle

You inform HMRC of your gross personal pension contributions. ( so including the tax relief).
Better to do that quite quickly as they will start  calculating your 23/24 tax in a few weeks time.

segovia

I don't submit my returns, my accountant does, and they are not done yet.  

Assuming my accountant does it, do they communicate with the SIPP provider so they can claim the extra 20%?

Dazed_and_C0nfused

segovia said:

I don't submit my returns, my accountant does, and they are not done yet.  

Assuming my accountant does it, do they communicate with the SIPP provider so they can claim the extra 20%?

In that case you don't contact either HMRC or your pension provider.

You simply include the pension contribution in the relevant box on your tax return and any additional relief due will be taken into account in your Self Assessment calculation.

It often isn't exactly 20%, as ever with tax the devil is in the detail.  You might only have paid higher rate tax on say £10k so relief will be limited by that

Make sure you get the figures correct as well, does "I paid 15k" mean a gross contribution of 15k or 18.75k 🤔

lisyloo

I think it's gross of basic rate tax, but to be sure make sure you read the definition.

Marcon

Extracted from the 2023/24 tax return:

SouthCoastBoy

If my experience is to go by you might have to wait a while to get the refund. I requested a repayment (it used to be automatic until a couple of years ago) just over 4 weeks ago, refund not received yet so I have raised a complaint. We'll see how that goes

Dazed_and_C0nfused

SouthCoastBoy said:

If my experience is to go by you might have to wait a while to get the refund. I requested a repayment (it used to be automatic until a couple of years ago) just over 4 weeks ago, refund not received yet so I have raised a complaint. We'll see how that goes

Is there actually a refund waiting to be issued or is it still just a credit balance on your account?

SouthCoastBoy

Dazed_and_C0nfused said:

SouthCoastBoy said:

If my experience is to go by you might have to wait a while to get the refund. I requested a repayment (it used to be automatic until a couple of years ago) just over 4 weeks ago, refund not received yet so I have raised a complaint. We'll see how that goes

Is there actually a refund waiting to be issued or is it still just a credit balance on your account?

Still a credit balance on my account. When I requested the refund I was emailed a confirmation detailing the
request has been successful along with a transaction Id, but nothing has happened since

Dazed_and_C0nfused

SouthCoastBoy said:

Dazed_and_C0nfused said:

SouthCoastBoy said:

If my experience is to go by you might have to wait a while to get the refund. I requested a repayment (it used to be automatic until a couple of years ago) just over 4 weeks ago, refund not received yet so I have raised a complaint. We'll see how that goes

Is there actually a refund waiting to be issued or is it still just a credit balance on your account?

Still a credit balance on my account. When I requested the refund I was emailed a confirmation detailing the
request has been successful along with a transaction Id, but nothing has happened since

In that case it could be caught by this and need manual intervention?

https://www.gov.uk/hmrc-internal-manuals/self-assessment-manual/sam113010