Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Sat, 22 Jun 2024 11:20:26 GMT by Gazelle
I know that I have exceeded my standard pension allowance for one year and am calculating how much tax is likely to be due, taking into account any unused allowance for the last three years. Please could you confirm that when I am calculating my contributions to my SIPP for a given year, this is based on the gross amount. For example, in one year I contributed 20k net but this became 25k with 20% relief. Should I use 25k as my SIPP contribution for that year? Thanks
Posted Wed, 26 Jun 2024 14:04:57 GMT by HMRC Admin 5 Response
Hi

If you go above the annual allowance, your pension provider should give you a statement advising of this.  
There is also a calculator at Check if you have an annual allowance tax charge on your pension savings
to help you work out the annual allowance tax charge on your pension savings.

Thank you
Posted Tue, 02 Jul 2024 07:06:03 GMT by Gazelle
Thank you for your reply. As I pay into an employee pension and a SIPP, I can see that I have exceeded the limit. I have already looked at the calculator below before posting this query but it is not clear from this whether the total contributions that I put into the calculator are net or gross and include the tax relief. Please could you clarify this. Thanks
Posted Thu, 04 Jul 2024 12:00:07 GMT by HMRC Admin 25 Response
Hi Gazelle,
It is the fgross figure you will use.
Thank you. 
Posted Mon, 29 Jul 2024 19:46:37 GMT by Gazelle
Thank you for your reply. I have used the calculator and can see that as a result of exceeding the allowance in 22/23, there is a figure on which I will need to pay tax. I have seen that in order to declare this, I need to go on to my self-assessment and complete the relevant form. When I log on, it only seems to give me the option of accessing my self assessment for 23/24 - and declaring an over payment for that year but I didn’t exceed my allowance in that year. What would I need to complete, to make it clear that I exceeded my allowance in 2022/23 and not 23/24. Thanks
Posted Fri, 02 Aug 2024 08:54:38 GMT by HMRC Admin 21 Response
Hi Gazelle,
It automatically defaults to the last tax year and you will therefore need to select the option for earlier years.
Thank you.

You must be signed in to post in this forum.