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Where can I find more information about estimating the Annual Allowance figures on my tax return?
HMRC has published a Pensions Tax Manual which can be searched for at www.gov.uk.
Page PTM051700 of the manual provides information about estimating pension inputs if the scheme administrator has not provided information about pension inputs by the Self Assessment return filing date. Estimating your pension input amount will allow you to pay an amount of Annual Allowance charge on account to HMRC, either directly to HMRC or by electing for Scheme Pays.
You can also find HMRC’s guidance on completing the Self Assessment tax return by searching for HS345 at www.gov.uk and selecting the Pensions - tax charges on any excess over the lifetime allowance, annual allowance and on unauthorised payments help sheet.
If provisional figures are used you must notify HMRC when the actual figures become available. If you make adjustments at a later date because you have not paid enough tax HMRC may charge you interest on any late payment.
Page PTM051700 of the manual provides information about estimating pension inputs if the scheme administrator has not provided information about pension inputs by the Self Assessment return filing date. Estimating your pension input amount will allow you to pay an amount of Annual Allowance charge on account to HMRC, either directly to HMRC or by electing for Scheme Pays.
You can also find HMRC’s guidance on completing the Self Assessment tax return by searching for HS345 at www.gov.uk and selecting the Pensions - tax charges on any excess over the lifetime allowance, annual allowance and on unauthorised payments help sheet.
If provisional figures are used you must notify HMRC when the actual figures become available. If you make adjustments at a later date because you have not paid enough tax HMRC may charge you interest on any late payment.
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estimating aa, estimating annual allowance, tax return |