| Claiming tax relief for previous years [message #397521] |
Mi, 12 Juli 2006 12:08 |
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I have omitted to claim high rate tax relief for my company pension=20
payments for the last 4 years, because I was originally under the=20
impression that this would be handled automatically. I have in recent=20
years completed my tax returns online. Can I claim retrospectively=20
online, or do I need to ask them for a form, and if so is there a=20
special form you have to complete? An email question to Revenue =A3=20
Customs was filtered out by their "it's too hard" software, and I was=20
told to phone my local tax office.
Rather than sit at the end of a phone for an hour listening to music,=20
does anybody here know how to go about this please? Any help greatly=20
appreciated.
---
Brian
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| Re: Claiming tax relief for previous years [message #397540 ] |
Mi, 12 Juli 2006 15:43 |
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BrianW wrote:
> I have omitted to claim high rate tax relief for my company pension
> payments for the last 4 years, because I was originally under the
> impression that this would be handled automatically. I have in recent
> years completed my tax returns online. Can I claim retrospectively
> online, or do I need to ask them for a form, and if so is there a
> special form you have to complete? An email question to Revenue £
> Customs was filtered out by their "it's too hard" software, and I was
> told to phone my local tax office.
>
> Rather than sit at the end of a phone for an hour listening to music,
> does anybody here know how to go about this please? Any help greatly
> appreciated.
Basically you have to amend your returns. You can go back 6 years.
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| Re: Claiming tax relief for previous years [message #397556 ] |
Mi, 12 Juli 2006 20:02 |
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"BrianW" <brian [at] nospam.net> wrote in message
news:JS3tg.110$q4.46 [at] newsfe4-gui.ntli.net...
> I have omitted to claim high rate tax relief for my company pension
> payments for the last 4 years, because I was originally under the
> impression that this would be handled automatically.
It is, nearly always. If it's a company pension and you're in PAYE the payments
should be deducted from your salary before tax is applied. Is this not the case?
--
Andy
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| Re: Claiming tax relief for previous years [message #399879 ] |
Do, 20 Juli 2006 18:41 |
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Andy Pandy wrote:
> "BrianW" <brian [at] nospam.net> wrote in message
> news:JS3tg.110$q4.46 [at] newsfe4-gui.ntli.net...
>> I have omitted to claim high rate tax relief for my company pension
>> payments for the last 4 years, because I was originally under the
>> impression that this would be handled automatically.
>
> It is, nearly always. If it's a company pension and you're in PAYE the payments
> should be deducted from your salary before tax is applied. Is this not the case?
>
> --
> Andy
I originally thought that the tax would be refunded at the prevailing
rate (in my case 40%), but I was wrong. Basic rate tax is refunded, but
you have to apply for 40%.
As to how I go about it, I now have the definitive answer from the
horse's mouth. Send all relevant P60s to the tax office with a covering
letter explaining the situation and your NI number. That's if you can
find the relevant P60s after several years...
---
Brian
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| Re: Claiming tax relief for previous years [message #399926 ] |
Fr, 21 Juli 2006 21:36 |
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"BrianW" <brian [at] nospam.net> wrote in message
news:8nOvg.15906$v02.6745 [at] newsfe3-gui.ntli.net...
> Andy Pandy wrote:
> > "BrianW" <brian [at] nospam.net> wrote in message
> > news:JS3tg.110$q4.46 [at] newsfe4-gui.ntli.net...
> >> I have omitted to claim high rate tax relief for my company pension
> >> payments for the last 4 years, because I was originally under the
> >> impression that this would be handled automatically.
> >
> > It is, nearly always. If it's a company pension and you're in PAYE the payments
> > should be deducted from your salary before tax is applied. Is this not the case?
>
> I originally thought that the tax would be refunded at the prevailing
> rate (in my case 40%), but I was wrong. Basic rate tax is refunded, but
> you have to apply for 40%.
Well it's a very weird "company pension" then.
Aren't the pension payments deducted from your salary? Don't you get totals each
month for "Gross pay", "pension payments", and "taxable pay", where "taxable pay" =
"gross pay" minus "pension payments"?
If so, you ARE getting full tax relief on your pension payments already.
--
Andy
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