Phillip Homer
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RE: What to do when tax relief on SIPP contribution arrives in following tax year?
I went with the advice given by my pension provider which I pasted above. Pretty sure the Admin responses here didn't understand my question. -
RE: What to do when tax relief on SIPP contribution arrives in following tax year?
Dear HRMC. I believe the advice you gave above is inaccurate. Please see here the response from my pension provider which makes much more sense: "The tax relief that is received and applied to your account is always going to count towards the year in which the original contribution is made. We treat this as a gross contribution. You can confirm this by going into your documents and generating a "Pension Contribution Statement" using the report generator as we report this to HMRC as a gross contribution which includes the corresponding tax relief. That means if you made a contribution on 01.04.23, even though the tax relief is applied around 6 - 11 weeks later, it is reported as a contribution made on 01.04.23 and counts to that tax year rather than the next." I'm posting this here in case others have the same question. Thank you -
RE: What to do when tax relief on SIPP contribution arrives in following tax year?
Ok thank you, after reading that I don't see how it is relevant to my question. I am not asking about MY contribution (to which the question of whether it was made by cheque, card, or DD would be relevant) - I am asking about the 25% tax relief that is automatically added to my account (to which asking how the payment doesn't make sense). Can you please clarify further? -
What to do when tax relief on SIPP contribution arrives in following tax year?
Dear HMRC If I made a SIPP contribution in tax year 2022/23, but the tax relief payment only reached my SIPP account in the following tax year (2023/24), what do I put as pension contributions on my SA for year 2022/23? My contribution alone, or my contribution x 1.25? e.g. if I contributed £8,000 on 1/4/23, and tax relief payment appeared in my account on 1/6/23, do I put: A) Put £8,000 in my 22/23 return, and add the £2,000 tax relief to my 23/24 return next year, or B) Put £10,000 in my 22/23 return. Thank you! -
RE: How to correctly enter US dividends in online tax return?
@Customer9999 - have you filed a W8-BEN? If you have then your US account provider should be only withholding 15%. 30% is the default rate if no W8-BEN has been filed which makes me suspect you haven't filed one.