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Document What are HMRC time limits for paying an Annual Allowance charge?

When an annual allowance charge must be paid depends on whether it has been paid by you or by us, using our scheme pays facility.

 

If you are paying all or part of your annual allowance charge yourself then you have until 31 January, following the end of the tax to pay your charge to HMRC. This is completed as part of your normal self-assessment tax return bill.

 

If we are paying all or part of your annual allowance charge using mandatory scheme pays we must pay this by 14 February.

 

Tax Year

Mandatory Deadline

2017/18

14 February 2020

2018/19

14 February 2021

2019/20

14 February 2022

2020/21

14 February 2023

 

If we are paying any of your annual allowance by voluntary scheme pays this must be paid earlier than the mandatory deadline. HMRC’s deadline for paying voluntary scheme pays is the same as their deadline for paying tax on your self-assessment tax return, 31 January.

 

Tax Year

Voluntary - Deadline

2016/17

31 January 2018

2017/18

31 January 2019

2018/19

31 January 2020

2019/20

31 January 2021

2020/21

31 January 2022

 

In line with statutory requirements NHS Pensions pays tax quarterly to HMRC; this includes voluntary scheme pays, with the final dates for payment being: 15 May, 14 August, 14 November and 14 February. Which quarter we pay your voluntary scheme pays will depend on when we accept your scheme pays election.
 

With voluntary scheme pays you remain solely liable for your annual allowance charge, therefore if it is paid in a quarter later than 31 January HMRC may ask you to pay interest because of the late payment.


More information about mandatory and voluntary scheme pays can be found in the Pension Schemes Statement Guide and factsheets available on our website.
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