SunnyBunny Forumite

Just over half way through 23/24 tax year I had approx 30% salary increase due to promotion, so until then I paid only 20% tax. I only received notice of this underpayment this week, it is based on reducing personal saving allowance to £500 and another £100 underpayment + £103 from another year. I am still an employee & do…

Hi @Dazed_and_C0nfused I do the salary sacrifice employer contributions thing via my work pensions each year so I'm not requesting any refund against that stuff. The tax relief I'm after a refund on is against the contributions to my SIPP (I make those contributions from savings so the£ has already been taxed) so will be…

Thanks @Albermarle - I have been a lurker on the pensions forum for some time and am thankful for learning along the way, including salary sacrifice and making the most of pension tax breaks. This year is the first time I've had to pay 40% tax so another bit of learning and more reading ahead. 

£2500 for this tax year FY24/25. Receive another message this week to say I owe another few hundred for FY 23/24. When I call HMRC will also mention that too. Thanks. 

The reason I was going to wait until April is that the estimate on savings interest that maybe overestimated but probably only by a couple of hundred. This week received another message to say I owe a few hundred for the FY 23/24 tax year so I'll mention that when I call them too. Thanks for the tip I haven't been in this…

@Dazed_and_C0nfused - thank you - I'll keep it simple and pay this year. @badmemory - Good point - after some tooing and froing around the personal tax account it seems that the main chunk of the estimate is accurate - might be a slight overestimate on one point, if that's the case they'll refund next FY - would be nice to…

I just wanted to say thank you so much to the OP - this discussion has been a real eye opener. Responses have been sensitive and individual. The different activities that might help that people have suggested - great options. The "talking therapies", as they say, can be really useful to have someone independent that you…

This does bring it home to me to review my decisions - I went with Fidelity as they had a cashback offer at the time. Will have to look into fees and watch my language :) funds, ETFs not products! Thanks so much.

Hey @InvesterJones good to know that another provider would step in (naive I should know that) @Beddie So is it expensive to buy via Fidelity, I mean in general, rather than to buy Vanguard products? Thanks @kempiejon that is a consideration.

One Christmas I volunteered for our local Hospice pop up charity shop - I asked the manager what they thought about people who buy to re-sell - they replied that they did not care what people did with the items once they paid for them - what they did not like was when people want to negotiate the price of the item! I…

I checked via the HL carry forward calculator and it seems that I still have annual allowance to spare for the rest of the year which is good as I was planning to pay a bit extra into my DC pension before the end of this tax year. Thanks everyone and @zagfles in particular for the info. Given the annual allowance/earnings…

@Dazed_and_C0nfused I don't have to complete a self assessment return, I am an employee for an organisation and salary sacrifice brings all my salary to basic rate. Thanks.

Thanks @jamesd very handy to know that if I find myself over the limit. "A common mistake is adding your DB PIA, your gross DC and SIPP and saying oh dear that's more than my earnings. But if you're an avid reader here you'd know that as it's explained every week " @zagfles Ha ha - avid reader and understander are perhaps…

@jamesd Thank you - out of interest what is the time allowed period. I'll recheck my figures and then contact Fidelity. I'll reduce my contributions to the DC pension for the next couple of months as well. 

Well I think I understood the £40K allowance for total pension contributions per year, then this year when it increased to £60K. The unused allowance from previous years can roll over (roll over probably not the correct term as I always think of the lottery and in this instance it is the exact opposite, ie meaning I have…

You could also try gumtree - no fees. I've had some success although not with clothes. The other thing you could check is the cost of postage, if you fold the dress, or whatever clothing item and send in a polybag depending on the weight and size of the bag you can send as a large letter - so cost could be £1.99 rather…

OK that's great. Thank you and hopes this helps other similiarly confused people.

This is my previous post in April https://forums.moneysavingexpert.com/discussion/6258513/40k-allowance I am now trying to work out how much I can put into a SIPP this year and work out how much I have left from previous 3 years. So for example: In the 20/21 tax year my DB statements shows approx £13.5K as the "assessed…

Found my statement for the 19/20 tax year and see that the Assessed Annual Allowance figure is there in black and white so luckily I don't have to work it out myself, other than adding the gross DC contributions. (Haven't got a SIPP yet). I also note your comments re separate limit on tax relief which is really clear and…

Not sure if that is a question or an answer or both - yep I'm confused.