Can I reclaim tax relief on pension contr. as basic rate tax
Discussion
I don’t think the 20% was added cos my £1000 I purchased (for a cost of £9440) was all that got added to my pension statement. But now I’m going to screw things up by saying the was with teachers pensions, so maybe it’s different somehow? Although I don’t think / can’t see why it would be. The only thing I know is what I quoted above and see pic below, which appears to say nothing happens and I will have to contact my local tax office (as I paid by lump sum not instalments)
I sent them a message so will have to wait for response which will probably take 2 weeks, I will update when I hear back.
I sent them a message so will have to wait for response which will probably take 2 weeks, I will update when I hear back.
JulianPH said:
Sorry, I missed that thread!
Just had a look and Steve was spot on, but it seems like that won't work for you. It may still be worth you going back to them and pointing out the large employer NI saving they would benefit from and that you are happy to sign an agreement to not pursue them for unfair dismissal.
It might not get you anywhere, but it would be my first move at this stage.
If you have the earnings and already have any form of pension (State Pension excluded) in place there is nothing stopping you from putting this payment into your pension to avoid any tax.
If you don't, then you can request they make this payment as a gross pension contribution rather than a net personal payment.
If you would like to chat through this please give me a PM. Alternatively contact Nik on the IM sticky and he can do this and also represent your position (and the tax advantages available to them) with your employer. This should add some weight to your position.
Julian you have email 👍Just had a look and Steve was spot on, but it seems like that won't work for you. It may still be worth you going back to them and pointing out the large employer NI saving they would benefit from and that you are happy to sign an agreement to not pursue them for unfair dismissal.
It might not get you anywhere, but it would be my first move at this stage.
If you have the earnings and already have any form of pension (State Pension excluded) in place there is nothing stopping you from putting this payment into your pension to avoid any tax.
If you don't, then you can request they make this payment as a gross pension contribution rather than a net personal payment.
If you would like to chat through this please give me a PM. Alternatively contact Nik on the IM sticky and he can do this and also represent your position (and the tax advantages available to them) with your employer. This should add some weight to your position.
CoolHands said:
I don’t think the 20% was added cos my £1000 I purchased (for a cost of £9440) was all that got added to my pension statement. But now I’m going to screw things up by saying the was with teachers pensions, so maybe it’s different somehow? Although I don’t think / can’t see why it would be. The only thing I know is what I quoted above and see pic below, which appears to say nothing happens and I will have to contact my local tax office (as I paid by lump sum not instalments)
I sent them a message so will have to wait for response which will probably take 2 weeks, I will update when I hear back.
What type of PAYE tax code did you have?I sent them a message so will have to wait for response which will probably take 2 weeks, I will update when I hear back.
There are alternative ways in which tax relief can be obtained on pensions.
CoolHands said:
It said tax code at the end of the year was 1100L
“Your tax code for LONDON BOROUGH OF XXXXX from 6 April 2016 to 5 April 2017 was 1100L”
Standard code for that year so no pension tax relief being given through your code.“Your tax code for LONDON BOROUGH OF XXXXX from 6 April 2016 to 5 April 2017 was 1100L”
If you are convinced your pension company has failed to credit you with your rightful tax relief, that is a serious situation and you need to contact them to find out what has happened and get the situation sorted.
It seems I was not wrong to consider this, as I have found a post on the exact same topic on the teachers forum, one person said the following in response to a similar query::
Forum said:
”I did a one off payment for additional pension. You pay the whole amount to teacher's pensions, then they send you a letter confirming the payment. You send a copy of that confirmation with an accompanying letter to HMRC explaining you made a gross payment to your pension and would like to claim the tax relief. They will adjust your tax code (add your gross payment to your tax code, e.g, if your tax code is 11850L and you make a £20,000 gross payment contribution, your tax code will become 11850+20,000=31850L. so you claim back the tax through your monthly pay. You won't pay in income tax until all the tax has been claimed back.”
So I intend to do likewise and see if I get anywhere. As I looked at my tax codes the following years and they remained normal ie didn’t change / take account of the above.Hi it’s been 1 week short of 2 months since I posted a letter to hmrc pensions about this and I’ve not had any response. Any thoughts on how long I should wait / they will take to respond? I laid it out clearly and gave all info in my letter so I thought would be fairly straightforward either way.
Has it been concluded that you made an Additional Pension Benefits contribution into your teachers' pension scheme, rather than added a contribution to any type of personal pension?
If it the former then you need to speak to the Teachers' Pension Scheme. If it is the latter then speak to your pension provider.
You should receive tax relief at source in any event though.
Cheers
If it the former then you need to speak to the Teachers' Pension Scheme. If it is the latter then speak to your pension provider.
You should receive tax relief at source in any event though.
Cheers
Well after an initial letter from hmrc saying only higher rate tax payers get relief,l so I wasn’t entitled, I wrote a second letter asking for someone to review my case in more detail (I gave all specifics).
I’m happy (for myself!) to report I was correct and owed 20% relief and got a nice cheque
It took 2 phone calls (got told wrongly I wasn’t entitled) and 3 letters (1 they claimed ‘never received’, 1 they denied I was entitled, and on 3rd they acted)
I’m happy (for myself!) to report I was correct and owed 20% relief and got a nice cheque
It took 2 phone calls (got told wrongly I wasn’t entitled) and 3 letters (1 they claimed ‘never received’, 1 they denied I was entitled, and on 3rd they acted)
Edited by CoolHands on Friday 17th July 08:36
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