Claiming higher rate pension relief
Claiming higher rate pension relief
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covmutley

Original Poster:

3,362 posts

220 months

Monday 4th March 2019
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What's the best way to do this please? I'm in 40% tax band.

I understand I can either do a self assessment form, or just contact HMRC?

Been in current job 12 months, so will be an element of reclaim. If I went the form route, it would only be the pension relief I'm claiming back . Thanks

bogie

17,080 posts

302 months

Monday 4th March 2019
quotequote all
Save the hassle of self assessment each year, just do the form /give them a call with the figures for this tax period. If its a regular amount they will then adjust your tax code accordingly to give you the rebate by not paying so much tax each month.

C0ffin D0dger

3,440 posts

175 months

Monday 4th March 2019
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I've always done it through self assessment, not very complicated to do online if you're tax affairs are simple and I suspect if they aren't you'd be doing a return anyway. They do figure it out after a year or two and adjust your tax code accordingly negating the need for any further tax returns.

Company that took as over has salary sacrifice for pension contributions (i.e. the pension money is taken before tax) so I don't have to do self assessment anymore.

covmutley

Original Poster:

3,362 posts

220 months

Monday 4th March 2019
quotequote all
Thanks both.
Yes my previous employer took pension out first. Even simpler.

oldaudi

1,623 posts

188 months

Monday 4th March 2019
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I reclaimed using the Self Assesment form, then after a few years where the form was the same every year they asked me not to bother. My tax code is still 1500 and something L but ive not completed a form for awhile. I am of course still making the same SIPP donations should they ask!

Tegriffic

1,600 posts

281 months

Monday 4th March 2019
quotequote all
I’ve always just written to them with my calculations and that’s never been a problem. It states you can do that on their web page by the way.