can you explain what has happened with this tax deduction from pension?

Brie

@eastcorkram @Hoenir
yes both sensible ideas but not allowed by the scheme.  It was transfer the whole thing to a PP or annuity or take it in 2 separate lumps out over 2 tax years.  And when you take it the first year, the second year is automatically paid in the following April.  

I did look at transferring it out but I'm having too many problems with managing that with another scheme I just wanted to go for the easy option on this one.  Turns out not completely easy and the scheme admin obviously knows a whole lot less than peeps here about the tax system.  I don't blame him as I know it's not really his job.

eskbanker

Brie said:

I did look at transferring it out but I'm having too many problems with managing that with another scheme I just wanted to go for the easy option on this one.  Turns out not completely easy and the scheme admin obviously knows a whole lot less than peeps here about the tax system.  I don't blame him as I know it's not really his job.

What makes you say that?  Based on what you've posted, the tax has been handled exactly how it should have been, but has he given you some contradictory information perhaps?

Hoenir

Brie said:

 Turns out not completely easy and the scheme admin obviously knows a whole lot less than peeps here about the tax system.  I don't blame him as I know it's not really his job.

You wouldn't really expect them to. Not their role to be personal tax advisors. Their function is to process payments in accordance with prescribed taxation legislation. 

As in any customer support environment people will learn over time. Experience comes from dealing with things. First time for everthing as they say. 

molerat

You don't need to phone up for a form, you can claim a tax refund on line https://www.gov.uk/claim-tax-refund

Brie

eskbanker said:

Brie said:

I did look at transferring it out but I'm having too many problems with managing that with another scheme I just wanted to go for the easy option on this one.  Turns out not completely easy and the scheme admin obviously knows a whole lot less than peeps here about the tax system.  I don't blame him as I know it's not really his job.

What makes you say that?  Based on what you've posted, the tax has been handled exactly how it should have been, but has he given you some contradictory information perhaps?

It was one of those calls where the person kept having to put me on hold while they checked up on things.  Basically every time I asked a question the response was "oh, um, can you hold please?"  And he didn't know where things could be found on their website etc.  So to me this is someone who is likely brand new to pensions admin, brand new to that admin company.  And the way he addressed me (very politely) made it obvious that he was very young.  And so lack of experience says people here would know more.  Suffice to say I have more confidence in the info here than what he was giving me - more due to the way he gave it rather than that he actually got anything completely wrong.  

wjr4

Brie said:

eskbanker said:

Brie said:

I did look at transferring it out but I'm having too many problems with managing that with another scheme I just wanted to go for the easy option on this one.  Turns out not completely easy and the scheme admin obviously knows a whole lot less than peeps here about the tax system.  I don't blame him as I know it's not really his job.

What makes you say that?  Based on what you've posted, the tax has been handled exactly how it should have been, but has he given you some contradictory information perhaps?

It was one of those calls where the person kept having to put me on hold while they checked up on things.  Basically every time I asked a question the response was "oh, um, can you hold please?"  And he didn't know where things could be found on their website etc.  So to me this is someone who is likely brand new to pensions admin, brand new to that admin company.  And the way he addressed me (very politely) made it obvious that he was very young.  And so lack of experience says people here would know more.  Suffice to say I have more confidence in the info here than what he was giving me - more due to the way he gave it rather than that he actually got anything completely wrong.  

It still isn’t their job to tell you things like that though. They process payments, that is all. 

Brie

wjr4 said:

Brie said:

eskbanker said:

Brie said:

I did look at transferring it out but I'm having too many problems with managing that with another scheme I just wanted to go for the easy option on this one.  Turns out not completely easy and the scheme admin obviously knows a whole lot less than peeps here about the tax system.  I don't blame him as I know it's not really his job.

What makes you say that?  Based on what you've posted, the tax has been handled exactly how it should have been, but has he given you some contradictory information perhaps?

It was one of those calls where the person kept having to put me on hold while they checked up on things.  Basically every time I asked a question the response was "oh, um, can you hold please?"  And he didn't know where things could be found on their website etc.  So to me this is someone who is likely brand new to pensions admin, brand new to that admin company.  And the way he addressed me (very politely) made it obvious that he was very young.  And so lack of experience says people here would know more.  Suffice to say I have more confidence in the info here than what he was giving me - more due to the way he gave it rather than that he actually got anything completely wrong.  

It still isn’t their job to tell you things like that though. They process payments, that is all. 

I thought I was celebrating the intelligent folks we have here!!!  

And yes I know what they do.  Was a time I used to do the same.  And no I didn't know about the tax implications either.