Johnwayne1973

Hi If you don't know the answer to my post could you let me know who to contact please. Thanks John

I have decided to invest what ever I earn over the threshold of £50,270 into my pension. I understand that I will receive 20% releif at source and that I will need to claim for the other 20% via self assesment for the amount over the threshold. I have read online that after the first year of doing this for example tax year 24-25 i can claim back the other 20% back in April 2025 and will receive a lump sum for the amount owed for yearv24-25. I also read that future years my tax code would change as HMRC will assume that i will be paying the same amount in every year. As i will be earning different amounts every year based on future guaranteed pay rises and overtime, the change in tax codes could become very confusing from year to year and I wouldnt really know where I stand and also not sure what would happen if I had to stop the extra contributions for some reason in the future?. My question is instead of my tax code changing every year am I able to fill out a self assesment form and receive a lump sum every year so that my tax code stays the same 1257L? If not could you tell me how this would work if say in 24-25 if I earned £60,270 and invested £10,000 into my pension above the threshold amount and how it would affect my tax code the following years? Thank you