Tax Return TR4 Box 1 - one-off contributions

[BobbyD]

I must be really bored, I've started my tax return 5 months early, and as ever could do with a small pointer from those better versed.

This seems to be the place to put the payment I made in to my SIPP but the notes say

"Put the total amount in box 1 – that is, your personal contributions paid to the scheme, plus the basic rate tax relief. Include any one-off contributions you made in the year and provide the details of any one-off contributions in ‘Any other information’ on page TR 7. "

What's a one off payment?

I literally made one payment during the year, transferring in personal cash.

Is this a one off payment?

Thx.

[PinkDalek]

I must be really bored, I've started my tax return 5 months early, and as ever could do with a small pointer from those better versed.

This seems to be the place to put the payment I made in to my SIPP but the notes say

"Put the total amount in box 1 – that is, your personal contributions paid to the scheme, plus the basic rate tax relief. Include any one-off contributions you made in the year and provide the details of any one-off contributions in ‘Any other information’ on page TR 7. "

What's a one off payment?

I literally made one payment during the year, transferring in personal cash.

Is this a one off payment?

Thx.

Yes, enter the grossed-up figure for your one-off SIPP contribution in Box 1 of your paper return (and, as they say, enter the detail on page TR 7 - white space Box 19). So if your contribution was the minimum £2,880 for the tax year, put £3,600 in box 1.

[PinkDalek]

... So if your contribution was the minimum £2,880 for the tax year, put £3,600 in box 1.

I didn't mean minimum. I should have said if one has insufficient net relevant income, such that the maximum one can contribute in a year is the net £2,880.

[BobbyD]

Yes, enter the grossed-up figure for your one-off SIPP contribution in Box 1 of your paper return (and, as they say, enter the detail on page TR 7 - white space Box 19). So if your contribution was the minimum £2,880 for the tax year, put £3,600 in box 1.

Thanks.

Regarding the detail, what detail should I include? Payment to SIPP? Provider name? They know the amount... date?

Thanks again.

[PinkDalek]

Regarding the detail, what detail should I include? Payment to SIPP? Provider name? They know the amount... date?

I haven't found where HMRC define "the details" but I include the name of the SIPP provider only.

I suppose one could include their reference number as well, which I might do next year. The white space is only there for when HMRC actually read it. Apparently they don't always so do. Perhaps when matching up to other information they receive. They can always ask for additional information if needs be but there's no harm including the date of contribution, if you so wish, to avoid follow up questions.

[BobbyD]

Thanks again.