Lump in the throat

Could you be owed hundreds of pounds?

If you bought additional pension with a lump sum, quite possibly.

HMRC are not used to dealing with pension schemes that are NOT set up for automatic tax relief.

https://youtu.be/43nSpsANhBc

Link to spreadsheet

The relevant HMRC manual page to quote if the first person you talk to doesn’t understand this fully is the 3rd bullet point on this page:

www.gov.uk/hmrc-internal-manuals/pensions-tax-manual/ptm044210

  • where a member makes gross contributions to a registered pension scheme, they can make a claim to HMRC to obtain the tax relief on the contribution. The amount of the contribution is then relieved by being deducted from the member’s total income for the tax year in which the payment is made. The deduction will be shown on the member’s Self-Assessment to give them the correct amount of tax relief. Further information on claims is at PTM044240.

One thought on “Lump in the throat

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  1. I read Dave’s comment about this on the TES forum website before it was shutdown over a year ago and rang TPS. They told me that I had already had the tax relief and that if I disagreed to write to them. This put me off.

    Having watched this video I decided to give it another go and HMRC’s first line responder was still adamant that I was still wrong, but when I persisted with the facts from this video they agreed to pass it on to someone more senior who would get back to me. The NEXT day this person did indeed call me back and confirmed that I WAS OWED a tax refund!

    I now have just under £1000 paid back. I very nearly didn’t pursue it – a donation to the Pilgrim’s Hospice (Dave’s favourite charity) is on its way.

    Thank you.

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