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Posted Tue, 15 Nov 2022 18:12:25 GMT by tigerspill
Hi, I withdrew £11,700 from my SIPP. Income tax was collected at £3,632.06 (no idea how that was calculated), and I received the net amount into my account. I had no other income (21/22). The move income is below the threshold for paying tax so no tax is actually due. The HMRC have automatically refunded me this tax so that is all good. I am now completing my SA and have entered the taxable amount of £11,700 and the tax paid of £3,632.06. The calculation now shows that they owe me this tax back - which they obviously dont as they have already paid this to me. How do I account for this on my SA so the calculation shows zero. One option I guess is to change the tax paid to zero (as this is in effect what has happened after the refund). Or do I record this repayment somewhere that will balance the tax payment in the calculation to get it to zero? Thanks
Posted Fri, 18 Nov 2022 14:10:07 GMT by

On page TR6 box 1 of the paper return is where you enter tax repaid by HMRC.

 If submitting your tax return online, got to option '3. tailor your return', scroll to the bottom and click on save and continue and naviage to page 3 of 3.
Scroll down to ;'Have you had any 2021-22 Income Tax refunded or off-set by us or JobCentre Plus?' and change to yes.  

Save and continue.  

Click on option '4. Fill in your return' and scroll to 'Tax refunded or set off' and click on it.  

Enter the amount of refund you have already received.x

Thank you. 


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