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Posted Wed, 13 Mar 2024 22:58:37 GMT by plane123456
Hello, im thinking about paying into a SIPP days before the tax year end to reduce my taxes. i know my pension provider uses the relief at source method. ive read online this could take up to 6 weeks. if i do my payment 1 week before the end of the tax year, would i be entitled for that relief if it comes back 6 weeks from that date? or that relief would carry over to the next tax year and i would not get any tax benefit in the current tax year? that is the point of making the payment into pension. thanks.
Posted Wed, 20 Mar 2024 14:09:23 GMT by HMRC Admin 8
Tax relief is due in the year the payment is made and the deemed date of payment depends on how the payment is actually made. please refer to: Deemed date of contributions
Thank you.

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