HMRC SIPP Refund for tax year 2025-26

[Greenmantle]

Planning for the next tax year.
Want to place money into my SIPP asap after April 5th.
Does anyone know when HMRC will refund the basic rate tax part?
Do I have to earn it in my 2025-26 salary before they will refund?
Obviously the 40% bit I will reclaim as part of my Self Assessment in April / May 2026.

[fat80b]

I'm not entirely sure - I usually dump a bunch into my pension right at the end of the year and then file the SA straight away - It still takes months to get the refund.

But if you want it back during the year, don't you just go onto the HMRC site and enter your estimated pay for the year (having taken into account the amount of the SIPP payment made) and it'll spit out a new tax code taking it into effect. That way you'd pay a reduced amount of tax each month and it'll all square up by the end of the year in time for you to then do an SA which if you've got the numbers right will result in 0 owed in either direction?

(I believe you can achieve the same by phoning them and getting them to adjust the tax code as well)

(and the 20% additional lump gets put into the SIPP by HMRC, and usually lands on/around the 22nd of the month + 1)

[supersport]

Your SIPP provider will re-claim it automatically. Usually takes a month or two and will appear in your SIPP when it's done.

[PM3]

Last 4 years, I paid in few days into new tax year ..... always got the uplift on 26, 27 or 28th June . Must be something to do with the 180th day of year

[oldaudi]

Your SIPP platform should give you the first part. HL pay mine on 21st of each month 3 months after I pay in.

The rest I claim back via a tax return and last year that took about 7 months after submitting it. A few of us on here were complaining!

[Olivera]

supersport said:

Your SIPP provider will re-claim it automatically. Usually takes a month or two and will appear in your SIPP when it's done.

I presume the basic rate pension tax relief gets credited to the tax year in which it occurred, i.e. not necessarily to the tax year in which it's paid?

[supersport]

Olivera said:

supersport said:

Your SIPP provider will re-claim it automatically. Usually takes a month or two and will appear in your SIPP when it's done.

I presume the basic rate pension tax relief gets credited to the tax year in which it occurred, i.e. not necessarily to the tax year in which it's paid?

If you’re claiming the extra back on self assessment then you’re putting in the gross amount on the form for the tax year you contributed it.

So you contribute in March 2024 and that goes on 2024’s assessment even it will eventually be credited in the next tax year.