Pension allowance carry forward- declaring?
Posted: February 6th, 2024, 10:51 pm
(prompted by earlier post)
viewtopic.php?f=49&t=42250
I have submitted my return for 22/23
I was £55 short of the £40k annual pension contribution in 22/23 after sal sac contributions into my employer's scheme
I had just under £49,300 remaining allowance from the previous 3 tax years combined, so I opened a new SIPP and paid in just short of 80% of this amount
I declared this payment on the return
But, reading through previous post, and the pdf copy of my return, it appears that I should have filled in boxes 10-12 on additional information
(10: Amount saved towards your pension, in the period covered by this tax return, in excess of the Annual Allowance)
I think I can go back in and edit, despite having submitted, but want to make sure I fill in the right amounts in the right boxes
Hopefully this wont trigger any tax charge. I did phone my SIPP provider and explained I was utilising carry forward, and asked if I needed to inform HMRC. I got the impression (wrongly) that it would happen automatically. Perhaps they meant I didn't need to inform HMRC prior to my tax return submission???
What next?
cheers
AC
viewtopic.php?f=49&t=42250
I have submitted my return for 22/23
I was £55 short of the £40k annual pension contribution in 22/23 after sal sac contributions into my employer's scheme
I had just under £49,300 remaining allowance from the previous 3 tax years combined, so I opened a new SIPP and paid in just short of 80% of this amount
I declared this payment on the return
But, reading through previous post, and the pdf copy of my return, it appears that I should have filled in boxes 10-12 on additional information
(10: Amount saved towards your pension, in the period covered by this tax return, in excess of the Annual Allowance)
I think I can go back in and edit, despite having submitted, but want to make sure I fill in the right amounts in the right boxes
Hopefully this wont trigger any tax charge. I did phone my SIPP provider and explained I was utilising carry forward, and asked if I needed to inform HMRC. I got the impression (wrongly) that it would happen automatically. Perhaps they meant I didn't need to inform HMRC prior to my tax return submission???
What next?
cheers
AC