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Posted Fri, 11 Oct 2024 08:46:04 GMT by K T
To utilise my annual allowance, a large pension contribution was deducted from my payslip in March 2023 (2023/24) and then again in April 2023 (2024/25). The pension provider has allocated the two payments into 2024/25 which I believe is incorrect for tax purposes. The pension provider works on payment date as opposed to payslip date and therefore not aligned with HMRC. In terms of the the tax return, the March pension contribution should be included on my 2023/24 tax return and April contribution in 2024/25. Is this correct?
Posted Fri, 18 Oct 2024 15:26:25 GMT by HMRC Admin 19 Response
Hi.
You can see guidance below, as the method of payment determines the date:
Deemed date of contributions
Thank you.
Posted Tue, 07 Jan 2025 16:49:59 GMT by K T
Thank you for your email. HMRC and the pension providers do not seem to be aligned which is disappointing. If a large contribution was made in 2024, with 2025 and 2026 being low, are you able to allocate the large contribution to future years? Thanks
Posted Mon, 20 Jan 2025 14:10:06 GMT by HMRC Admin 17 Response

Hi ,
 
Unfortunately, it is not possible to check individual tax records through this forum, if you have a question which relates to
your personal tax situation or tax code please contact our helpline: 

Income Tax: general enquiries   . 

Thank you .
Posted Mon, 20 Jan 2025 18:45:58 GMT by maxb
@K T, It's not (in this case) an issue with HMRC - the rules in this particular case are fairly clearly set out. It's a shame your payroll provider accepted instructions to process a deduction in March if they wouldn't process it in good time to make the end of the tax year. > March 2023 (2023/24) and then again in April 2023 (2024/25) These dates don't make sense... I guess you meant to write 2024 in each place you wrote 2023? Now the contributions have been made, I believe your only recourse is to allocate them against your Annual Allowance for 2024/25 first, and then apply any unused Annual Allowance you may (or may not) have available to carry forward from 2021/22, 2022/23, and 2023/24. Since you were apparently planning to make a big contribution in 2023/24, but did not, perhaps this will work well for you... although if the first contribution was intended to rely on carried forward Annual Allowance from 2020/21, that has now been unavoidably lost. There is no provision to carry Annual Allowance back from future years.

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