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Claiming tax relief on contributions after retirement
mickyduck55
Posts: 700 Forumite
I am just filing my tax return 2024/25 using online software which I have used for many years (Taxcalc).. In this tax yearI was informed that as I am under 75 and retired I could contribute £2880 to my SIPP.
I cannot find an option in the pensions section of my return to claim tax relief on money deposited direcly from my income, does anyone have any idea how to do this?
TIA
I cannot find an option in the pensions section of my return to claim tax relief on money deposited direcly from my income, does anyone have any idea how to do this?
TIA
3.995kWP SSW facing. Commissioned 7 July 2011. 24 degree pitch (£3.36 /W).
17 Yingli 235 panels
Sunnyboy 4000TL inverter
Sunny Webox
Solar Immersion installed May 2013, after two Solar Immersion lasting just over the guarantee period replaced with Solic 200... no problems since.
17 Yingli 235 panels
Sunnyboy 4000TL inverter
Sunny Webox
Solar Immersion installed May 2013, after two Solar Immersion lasting just over the guarantee period replaced with Solic 200... no problems since.
13 Feb 2020 LUX AC 3600 and 3 X Pylon Tech 3.5 kW batteries added...
20 January 2024 Daikin ASHP installed
0
Comments
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As far as I'm aware (certainly in my case) you don't need to do anything. The Pension provider adds the tax relief - you contribute £2880 of your unearned income, and it's made up to £3600 within the Pension itself.4
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Are you a higher-rate taxpayer?mickyduck55 said:I cannot find an option in the pensions section of my return to claim tax relief on money deposited direcly from my income ...N. Hampshire, he/him. Octopus Intelligent Go elec & Tracker gas / Vodafone BB / iD mobile. Kirk Hill Co-op member.Ofgem cap table, Ofgem cap explainer. Economy 7 cap explainer. Gas vs E7 vs peak elec heating costs, Best kettle!
2.72kWp PV facing SSW installed Jan 2012. 11 x 247w panels, 3.6kw inverter. 35 MWh generated, long-term average 2.6 Os.0 -
What circumstances mean you have to complete a tax return every year?0
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unless you are a high earner you don't need to do anything , the tax relief (20%) will be added by the pension provider. You could always contact the provider to confirm they are doing this . There will be no other tax relief to claim back from hmrc0
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I think it is in the Tax Reliefs section (TR4) under payments to registered pension schemes. I suspect it will be box 1 (and you need to gross it up for the basic rate relief claimed in the pension so put 3600 not 2880).mickyduck55 said:I am just filing my tax return 2024/25 using online software which I have used for many years (Taxcalc).. In this tax yearI was informed that as I am under 75 and retired I could contribute £2880 to my SIPP.
I cannot find an option in the pensions section of my return to claim tax relief on money deposited direcly from my income, does anyone have any idea how to do this?
TIA1 -
Last time I did a tax return it was the first question on the Tax Reliefs page ..
"1 Payments to registered pension schemes where basic rate tax relief will be claimed by your pension provider (called ‘relief at source’). Enter the payments and basic rate tax"
If you contributed £2,880 and the scheme added tax relief then you answer "£3,600"
But as others have said, not necessarily unless you're either claiming HR tax relief or ha e to do a tax return for some other reason.1 -
That is completely wrong. There may not be any additional tax relief due but the op said this so they should make an accurate return, not submit one with details omitted.Mick70 said:unless you are a high earner you don't need to do anything , the tax relief (20%) will be added by the pension provider. You could always contact the provider to confirm they are doing this . There will be no other tax relief to claim back from hmrc
I am just filing my tax return 2024/250 -
No I am not now Im retired, interesting point though, I could be so in theory would get 40% relief just by going over the threshold ?QrizB said:
Are you a higher-rate taxpayer?mickyduck55 said:I cannot find an option in the pensions section of my return to claim tax relief on money deposited direcly from my income ...3.995kWP SSW facing. Commissioned 7 July 2011. 24 degree pitch (£3.36 /W).
17 Yingli 235 panels
Sunnyboy 4000TL inverter
Sunny Webox
Solar Immersion installed May 2013, after two Solar Immersion lasting just over the guarantee period replaced with Solic 200... no problems since.
13 Feb 2020 LUX AC 3600 and 3 X Pylon Tech 3.5 kW batteries added...
20 January 2024 Daikin ASHP installed0 -
Well if you are only £1 over the threshold you are not going to get 40% relief on the whole contribution. You would need to be £3600 over the threshold to get the full benefit.mickyduck55 said:
No I am not now Im retired, interesting point though, I could be so in theory would get 40% relief just by going over the threshold ?QrizB said:
Are you a higher-rate taxpayer?mickyduck55 said:I cannot find an option in the pensions section of my return to claim tax relief on money deposited direcly from my income ...
Say the threshold is 50270 and your gross contribution is 3600 you add the two together to get 53870. If your income is under 53870 then you will only pay 20% on the bit between your personal allowance and the 53870 (ignoring any 0% rates on interest and dividends).1 -
Income outside my pensionsquirrelpie said:What circumstances mean you have to complete a tax return every year?3.995kWP SSW facing. Commissioned 7 July 2011. 24 degree pitch (£3.36 /W).
17 Yingli 235 panels
Sunnyboy 4000TL inverter
Sunny Webox
Solar Immersion installed May 2013, after two Solar Immersion lasting just over the guarantee period replaced with Solic 200... no problems since.
13 Feb 2020 LUX AC 3600 and 3 X Pylon Tech 3.5 kW batteries added...
20 January 2024 Daikin ASHP installed0
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