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Posted Wed, 17 Jul 2024 09:10:59 GMT by David Pearson
Hi, I'm over 55 and have 2 pensions - one from a previous employer which is transferred into a SIPP that is static (I'm not paying into this pension) and the second pension is my current employers scheme that I contribute to via salary sacrifice. I have accessed pension one (The SIPP), so understand that as I'm still working, I am liable for tax on money paid into pension two IF it exceeds the money purchase annual allowance limit (currently £10,000). So If £12,000 was paid into pension two, I would be liable for tax on £2,000 ? My question is how do I declare that an extra £2,000 was paid into my pension AND how do I complete this on a self assessment form (which boxes) ???
Posted Thu, 18 Jul 2024 10:56:49 GMT by HMRC Admin 25 Response
Hi David,
Please refer to:
HS345 Pension savings — tax charges (2024)
Thank you. 
 

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