Exceeded my pension annual allowance, what are my options?

Janin1992

Plan of Action

I have requested my old pension provider to send me a Scheme Pays form. However, given that the self-assessment deadline is approaching, I suspect they may not be able to make the payment on time. My current plan is to proceed as follows:

- Submit my self-assessment, specifying that the pension provider has not made the payment.

- Make a personal payment of £2000 to cover the tax liability.

- Submit a request to the pension provider to pay this tax from the pension fund.

If the pension provider confirms in February (or later) that they have made the payment, I will amend my self-assessment to reflect this. I believe this adjustment should result in a tax refund and ensure that I do not miss a tax payment.

Good idea or bad?