Alvin Lee
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RE: Income Tax on updated past Pension Payments
Bottom line - Is tax payable for the whole 13 year period the back payment pertains to or do you just take it for the last 6 or 10 years? -
RE: Income Tax on updated past Pension Payments
Thank you but this doesn't answer my question. It is not beneficial to me to have the payments backdated for tax reasons before 2017. As part of the overall payment, will HMRC take tax from the first year part of the back payment even though that was 2010/11 or will it only take tax from 2017 as per the 6-year convention? -
RE: Income Tax on updated past Pension Payments
Thank you for your reply. The second part of my question was " does the 6 year rule apply in these cases , eg: Tax only liable for the years 2017 to 2023 ?" or is HMRC able to go back the full 12 or so years to calculate liability?