Higher rate tax pension contributions

Dazed_and_C0nfused

Giovanni88 said:

Thanks.

Yes indeed I misunderstood the process. I thought that the money went straight into my pension rather than come back to me.

If/when I recieve it I will most probably put it into my pension anyway, although a holiday does seem tempting!

Lastly, in what form will I receive this money back? In my payslip, or cheque in post?

Thanks again everyone, I wouldn't of been able to sort this as easily without you're help.

Neither.  You never receive tax overpaid from one year (or two in your case) in the tax code of a different tax year.

Once your amendments have been processed you should see any credit available on your Self Assessment account and you can then request a refund.  Which is just by bank transfer nowadays I think.

The above assumes you have already paid the original 2023-24 liability.

If the Self Assessment liability for either 2022-23 or 2023-24 is being, or is due to be, collected via your tax code that is a little more complicated.

Giovanni88

I would just like to thank everybody who contributed to this thread.

Today I found that I was owed just under 1.5k from hmrc. The money showed up on my tax account this morning and I've requested thus to be transferred to my bank account.

Thanks again.

Dazed_and_C0nfused

Giovanni88 said:

I would just like to thank everybody who contributed to this thread.

Today I found that I was owed just under 1.5k from hmrc. The money showed up on my tax account this morning and I've requested thus to be transferred to my bank account.

Thanks again.

Make sure you keep up the momentum and send the overpayment relief claims in before the deadline for 2021-21 arrives!