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Hmrc app and tax summary

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hilsea
hilsea Posts: 13 Forumite
Tenth Anniversary First Post Combo Breaker
I’m a bit confused looking at my Paye tax summary for 25/26 … it has my 2 pensions showing the estimated income, but it also shows £669 for savings and investments which reduces my personal allowance to 11901. I can’t find anywhere to see where the figure of £669 has come from. I was also under the impression that we have a savings allowance of £1k . The tax year 24/25 had no savings /investments attributed to the tax payable . My question is how do I query this figure they have as I believe it’s below the £1k and also as my pensions are below the tax free allowance I have been given with this calculation, I should still have the additional savings allowance up to £15 k from memory . 

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  • molerat
    molerat Posts: 34,633 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Will that interest deduction cause you to pay any tax ?  If you have spare allowance then they will generally fill it with any interest.  As long as the pension amounts are correct and it will not cause you to pay tax then there is no problem.
  • hilsea
    hilsea Posts: 13 Forumite
    Tenth Anniversary First Post Combo Breaker
    I am planning to withdraw cash from my crystallised pension to use up the remainder of my allowance. If I was not planning to do this I would not have worried. 
  • molerat
    molerat Posts: 34,633 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    So you need to update the estimated income from that pension to cover what you intend to draw.  The interest amount will then be removed.
  • hilsea
    hilsea Posts: 13 Forumite
    Tenth Anniversary First Post Combo Breaker
    Ok thank you 
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