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Posted Mon, 11 Mar 2024 09:19:27 GMT by D629597
I received a small inheritance from my aunt. Under £10,000. Can I pay this into a SIPP and receive basic rate tax relief? If yes, then does it have to added in the tax year it was received?
Posted Fri, 15 Mar 2024 11:51:35 GMT by HMRC Admin 19 Response
Hi,

You can add this small inheritance into your pension scheme. If dong so, takes you over your earnings threshold for tax relief, you will pay tax on it. You can see guidance here:

Check if you have unused annual allowances on your pension savings

Thank you.
Posted Tue, 19 Mar 2024 13:19:47 GMT by D629597
Can you clarify please? Is the inheritance classed as nett or gross income? If I incurred 40% tax overall after including the it. Can I claim 40% tax relief using self assessment? Can I wait until the next tax year to add the inheritance? Thanks
Posted Fri, 22 Mar 2024 15:14:49 GMT by HMRC Admin 20 Response
Hi D629597,
You do not declare Inheritance on your tax return and you cannot get relief for the Inheritance tax paid.
Thank you.
Posted Sat, 23 Mar 2024 10:25:27 GMT by D629597
I'm not trying to claim back inheritance tax. It's, Can I put the inheritance money onto my SIPP in the next tax year and will I get tax relief? Thanks
Posted Wed, 27 Mar 2024 07:27:46 GMT by HMRC Admin 25 Response
Hi D629597,
Please refer to the following guidance:
Tax on your private pension contributions
Thank you. 

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