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Posted Sun, 10 Sep 2023 17:54:27 GMT by
Hi I am taking a year of unpaid leave from my employment I have a couple of questions 1. How do I get my tax code adjusted as am currently higher rate tax payer and I will receive my annual bonus in the year off which will not trigger the higher rate - can I rely on my employer telling HMRC or do I have to ring. 2. I am funding my year off by taking my tax free lump sum from a pension pot that is not my current workplace pension however I am not taking any of the taxable portion of the pension as I am planning to return to work and I do not want to reduce the tax relief on future contributions to my current workplace pension. If I only take the tax free portion then am I correct that it will not affect future contributions 3. During my year off neither me or my employer will be contributing to the pension - when I return and restart the contributions will there be any issue with this as I have taken the tax free portion from the other pot - e.g will it be considered “recycling” - I will not be using any of the pension money to restart the pension it will be the normal salary sacrifice and matched contributions Thanks
Posted Mon, 18 Sep 2023 15:33:09 GMT by HMRC Admin 10 Response
Hi
If you have signed up for the Personal Tax Account you can update your estimated income for the employment.
You are correct regarding future contributions.

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