Skip to main content

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

Posted Fri, 12 Jan 2024 09:39:13 GMT by
Hi Self Assessment question,confirmation required if i need to declare on self assessment a salary sacrafice (redundnacy) payment paid direct into my employers company pension scheme (defined contribution). 1. Salary sacraficed redundancy pension payment exceeds 40k limit for 22/23 2. Pension provider statement makes it clear i have available unused tax allowance from previous 3 years. I meet all the qualifying criteria as listed in HMRC help 3. I have read a lot of HMRC help pages and my current understanding is that I do not need to mention salaried scarafice payments on self assessment form and also do not need to do anything in terms of informing HMRC in the case of me using my previous 3years tax allowance (only to keep the pension statement for future reference if required). Essentially only reporting against my P60 gross contributions, any P11d benefits in kind and interest from savings etc.... 4. Just for clarity I am not self employed if that makes any difference! Thanks MB
Posted Wed, 17 Jan 2024 09:11:44 GMT by HMRC Admin 5

Even with salary sacrifice, there is still a threshold of £40000 up to 5 April 2023.  
You can carry forward the surplus threshold from the 3 previous tax years and add it to the years threshold.  So long as you do not exceed the revised threshold, there is nothing you need to do.  
If you do exceed the revised threshold, then you will need to declare the amount above the threshold in a self assessment tax return on supplementary page SA101 and the online equivalent.

Thank you

You must be signed in to post in this forum.