N

Hallo Thank you for your clarification regarding applying for the tax relief. However I am still unclear what happens if I pay into a pension this year, but because we are close to the year end the 25% tax relief that HMRC pay into the pension is not paid in until the next tax year. In counting towards the Annual Pension Contribution Allowance would the 25% tax relief that HMRC pay in be treated as this year ie the year in which I made payment, or next year when HMRC actually pay it in the the pension?

Looking at the Nest pension scheme documentation it states that it takes 6 to 8 weeks for them to receive the 20% tax refund from HMRC into my pension pot. As a result if I pay a lump sum into the scheme in the next couple of weeks the 20% refund would go toward my pension contribution allowance next tax year. Assuming that is correct as I higher rate tax payer I will be claiming back the additional tax and as I would be making that claim in the next tax year will that also count towards next years contribution allowance. If this is correct presumably I can use the full 60K allowance this year as the Tax relief will be paid next tax year effectively reducing that years allowance. Lastly I have seen comment that I need to write into HMRC if I am claiming more than 10K of tax relief does this mean its not done through self assessment?