Skip to main content

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

Posted Mon, 22 Jan 2024 11:13:06 GMT by
I'm a higher rate band tax payer and have a self-invested personal pension (SIPP). By the end of the tax year 2023-2024, I will have paid several thousand pounds into the SIPP. I know I can do a self assessment and claim back the extra 20%. I would really like this to end up in the SIPP, rather than having cash. Is there a way to instruct HMRC to pay this to the SIPP company? Otherwise, am I allowed to pay this into the SIPP and somehow notify them not to add 25% to this?
Posted Thu, 25 Jan 2024 11:04:12 GMT by HMRC Admin 20
Hi kwaku fa,
No.  You are claiming tax relief, as you pay tax at the higher rate.  Any tax overpaid, as a result of claiming the relief, can only be paid to you.
Thank you.
Posted Thu, 25 Jan 2024 20:05:33 GMT by
Am I allowed the pay the refunded overpaid tax back into the SIPP?
Posted Tue, 30 Jan 2024 11:18:03 GMT by HMRC Admin 19
Hi,

What you do with your refund is up to you.

Thank you.
Posted Tue, 30 Jan 2024 15:41:39 GMT by
Great, thanks.

You must be signed in to post in this forum.