Pensions higher tax- Hmrc

amy2015

I have gone through the tax return (as not submitted for Jan 25 yet) couldn’t find anything about the pensions other than this. Where am I going wrong?

its only the last 2 years I have earnt over 60k so had to submit a self assessment for high income charge 

Dazed_and_C0nfused

amy2015 said:

I have gone through the tax return (as not submitted for Jan 25 yet) couldn’t find anything about the pensions other than this. Where am I going wrong?

its only the last 2 years I have earnt over 60k so had to submit a self assessment for high income charge 

For the avoidance of doubt could you clarify exactly which two tax years.  As that changes things yet again 😕 

And yes, that is the (not very well worded) pension tax relief section.

SacredStephan

Qualifying earnings are between £6240 and £50270 per year.

You qualify for higher rate tax relief from HMRC but you will have to apply for it.

amy2015

Dazed_and_C0nfused said:

amy2015 said:

I have gone through the tax return (as not submitted for Jan 25 yet) couldn’t find anything about the pensions other than this. Where am I going wrong?

its only the last 2 years I have earnt over 60k so had to submit a self assessment for high income charge 

For the avoidance of doubt could you clarify exactly which two tax years.  As that changes things yet again 😕 

And yes, that is the (not very well worded) pension tax relief section.

They don’t make it easy for you! What happened to a simple section called higher tax reliefs 🙄

Year 22 
Year. 23 
and I need to submit year  24 in Jan

Does that make a difference? 

Dazed_and_C0nfused

amy2015 said:

Dazed_and_C0nfused said:

amy2015 said:

I have gone through the tax return (as not submitted for Jan 25 yet) couldn’t find anything about the pensions other than this. Where am I going wrong?

its only the last 2 years I have earnt over 60k so had to submit a self assessment for high income charge 

For the avoidance of doubt could you clarify exactly which two tax years.  As that changes things yet again 😕 

And yes, that is the (not very well worded) pension tax relief section.

They don’t make it easy for you! What happened to a simple section called higher tax reliefs 🙄

Year 22 
Year. 23 
and I need to submit year  24 in Jan

Does that make a difference? 

Yes, you now have to do 4 different things (assuming you were a higher rate payer in each year and made some relief at source contributions)

1.  Write to HMRC with details for 2020-21 so they calculate any refund due.

2.  Write to HMRC to claim overpayment relief for 2021-22.  Previous link to gov.uk guidance refers.  

3.  Amend your 2022-23 return

4.  Complete your 2023-24 return

amy2015

Thank you so much for everyones help. I really appreciate it.

I am going to do this first thing tomorrow morning and write to hmrc 

Am I right in thinking going forward if I made additional payments into Nest or any other Sipp I could add these figures plus the additional tax on next time I do a self assessment. Or is it something that must be done through payroll? I would like to set up a regular monthly payment (probably not into nest though) 

as I really am aware that my contributions are super low for my salary and I need to change that as it does worry me for my future 

Dazed_and_C0nfused

amy2015 said:

Thank you so much for everyones help. I really appreciate it.

I am going to do this first thing tomorrow morning and write to hmrc 

Am I right in thinking going forward if I made additional payments into Nest or any other Sipp I could add these figures plus the additional tax on next time I do a self assessment. Or is it something that must be done through payroll? I would like to set up a regular monthly payment (probably not into nest though) 

as I really am aware that my contributions are super low for my salary and I need to change that as it does worry me for my future 

It doesn't have to be done through your employers scheme no.

And yes, if you make contributions yourself you can include them in your tax return.  They would go in the same box on the return.  Everything made using the "relief at source" method goes in the same box on the return.