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Posted Fri, 11 Feb 2022 10:06:29 GMT by Raiders
If a taxpayer opens and funds a new SIPP account on 1/4/22 the HMRC tax relief would probably reach his account in March of 2022, using the pension providers estimate of 6-11 weeks after the initial deposit was made. So the taxpayer deposit would take place in one tax year and the HMRC credit in the following tax year. In this scenario would HMRC attribute the tax relief to the 2021-2022 tax year or the following 2022-2023 tax year? Thanks in advance.
Posted Mon, 14 Feb 2022 09:13:01 GMT by HMRC Admin 17

If you are relating to tax relief on contirbutions into the SIPP then these are based on  the year in which the payments made fall.

If a payment is made on the 01/04/22 then this would be the year for relief.

See link:

Tax on your private pension contributions  .

Thank you.
Posted Mon, 04 Apr 2022 17:11:39 GMT by Natalia
A follow up question on the date of pension contribution to SIPP. My bank account was debited for my contribution on the 1st of April 2022, however SIPP provider puts a settlement date (the date it gets shown on my pension pot) as 6th of April, which is already a different tax year. The question is what is counted as SIPP contribution date- the date my account got charged or the date this amount appears on my pension plan? Thank you
Posted Wed, 06 Apr 2022 13:03:58 GMT by HMRC Admin 26

Please note that relevant date would be the date on which you made the payment - ie the date your bank account was debited.

Thank you

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