Tax on SIPP pension contributions.

Hi, I'm looking for some advice relating to reclaiming tax on pension contributions. I made a payment of 40k on the 4th April 2023 to my ii SIPP. I am self employed. This payment came out of my account on the 4th of April and was confirmed by ii to have been in ii accounts on the 5th of April. I have a timestamped BACS slip provided by the pension provider. Due to a mix up with paperwork they did not allocate the funds into my pension for several weeks. As such they have allocated it to the 23/24 tax year rather than 22/23. Despite arguing back and forth they refuse to reallocate it and consider the matter closed. I believe that as I paid the money out (and it was received) in the 22/23 tax year I was correct to have claimed the tax relief for 22/23 in my personal tax return, irrespective of when the form was processed. However my concern now is that if I make a contribution of 40k in the next week or so for the 23/24 tax year I will be in excess of my yearly allowance. I have no carry over available from previous years. What can I do to get confidence that I wouldn't be chased for additional tax at a later date? Can I just make the payment into my SIPP and ignore the inevitable warning from ii that I have breached my annual allowance? Many thanks

Hi,

Please have a look at the pensions tax manual at PTM041000, as it defines the deemed date of contribution. 

PTM041000 - Contributions: essential principles

Thank you.

So if payment was cleared by 5th April 22/23 then deemed date of contribution is 22/23? That is my reading of the document. Thanks

Hi Granitas Black, 
That would be the case.
Thank you.