HMRC Admin 5 Response

Hi

If the pension relief claim is for an earlier tax year then it would be dealt with as a refund to you. If for the current 2023/24 tax year we would amend your code and relief received when code operated by your employer.
If the pension releif is carried foward to your 2024/25 tax code and no income is received from that employer then no relief would be received  through the tax code and would be reviewed at the tax year end.

Thank you

Hi Mart.07

In your example you are paying £6000 into your pension. As long as your income above the higher rate tax threshold covers the £6000 you can claim relief on the full  contributions.
The pension provider will claim 20% relief giving the figure £6000 x100/80 = £7500. £7500 at 20% £1500.
As you are higher rate an additional 20% would be due. As you are in Self Assessment your basic rate tax band is increased by 7500 to give you the additional 20% relief £1500.
More information can be found online Tax on your private pension contributions

Thank you

Hi

As it is foreign income that you have, this needs to be reported on a self assessment tax return so you will now need to register.
This will also allow you to declare the gain on the insurance policy. All interest received (not ISA) must be reported

Thank you

Hi Iris

If the 3rd party software will allow you to amend, yes. if not you would need to send in details for HMRC to do it manually.

Thank you

 

Hi

No. the pension tax charge applies when you exceed the annual allowance and that is not the case for your scenario.

Thank you

Hi

Please refer to guidance at BIM100210 - Miscellaneous income: particular sources: cash-backs

Thank you

Hi qy

The address you've given is correct -
Pay As You Earn and Self Assessment,
HM Revenue and Customs,
BX9 1AS.
If the letter you've sent requires a signature, it may be returned if there is no one available to sign for it. You might then prefer to send your letter without the request for a signature on arrival.

Thank you

Hi

While you will be due to pay 40% tax on any income above £50,000, this should not affect your tax code.
You should still be able to complete a tax return and pay any amount due via Self Assessment. 

Thank you

Hi

Contact our Self Assessment department by webchat or phone via Self Assessment: general enquiries- they can arrange to trace your payment if it hasn't been allocated to your account.

Thank you

Hi

You should submit a P85, to advise HMRC that you are leaving the UK and that you will continue to be employed by a UK employer.  
This will allow HMRC to update your tax records and issue the correct tax code for your employer to operate.  
You can do this online at Get your Income Tax right if you're leaving the UK (P85).

Thank you