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OzzMosiz

Pension Tax Relief Rebate

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Hi all,

This may have been covered before, if so apologies.

I am a higher rate tax payer and need to reclaim my Pension Tax Relief, has anyone done this here and how do you go about doing it.

Do I need to write to the tax office, or can it be done over the phone?

How long does it take to get the money back?

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Hi all,

This may have been covered before, if so apologies.

I am a higher rate tax payer and need to reclaim my Pension Tax Relief, has anyone done this here and how do you go about doing it.

Do I need to write to the tax office, or can it be done over the phone?

How long does it take to get the money back?

Well my understanding is that they add it onto your tax code for the following year. Could be wrong but thats what i think they do. Give them a call.

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Hi all,

This may have been covered before, if so apologies.

I am a higher rate tax payer and need to reclaim my Pension Tax Relief, has anyone done this here and how do you go about doing it.

Do I need to write to the tax office, or can it be done over the phone?

How long does it take to get the money back?

OH has had this problem. You might as well write to them at the outset, as that what they will ask you to do if you 'phone.

They will drag their heels, ask for proof from your employer about whether you are contracted in or out (as if they can't find this out themselves...) and take months to reply.

They will make it a pain in the backside in the hope that you will get fed up, and give up, but will eventually issue you with a change of tax code to reflect the refund.

Whatever you do, don't wait for them to notice and issue a change.

PS Ozz, are we getting an update on the wedding? It was you with the SIL from hell wasn't it?

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Hi all,

This may have been covered before, if so apologies.

I am a higher rate tax payer and need to reclaim my Pension Tax Relief, has anyone done this here and how do you go about doing it.

Do I need to write to the tax office, or can it be done over the phone?

How long does it take to get the money back?

The easy answer: just enter the numbers on your self-assessment. I got a £17k tax rebate last May, and I'll be expecting a few squid again this year.

I asked them about getting it back earlier through a more reasonable PAYE, but it turns out to be a lot of faff. They would accept up to £5k adjustment in personal allowance (£5k-worth of pension/charitable contributions), but for any more I'd have to leave a paper trail with them for every bloomin' transaction as it happened.

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Well my understanding is that they add it onto your tax code for the following year. Could be wrong but thats what i think they do. Give them a call.

I think that's the default for tiny discrepancies in your tax. If it's anything substantial they'll pay.

If you've underpaid, they'll demand it no matter how little:

Taxing Times

Once upon a time, when I was a young student, my then-girlfriend and I suffered the worst service I’ve ever encountered, lunching at a Cambridge restaurant. Instead of leaving a normal tip (shudder) or no tip, we left a tip of one halfpenny. We thought this gave entirely the right message. The other couple at the table (which we shared because the place was busy) fully agreed.

This year’s tax bill reminded me of that. Most tax in the UK is PAYE (pay as you earn), which means that your income, both earned and unearned, comes net of tax. In previous years I’ve had nothing to pay, but rather a small adjustment in my favour. This time, they decided I owed them 10p (that’s ten pence, not pounds). I just availed myself of their online payment facility to pay it by debit card.

I don’t know how much the government’s payment processor charges them per debit card transaction. But as a datapoint, my company gets charged a flat rate of 95p each time we accept a debitcard payment online (that’s different from creditcards, where we get charged a percentage). Big businesses get a much better rate than small ones, but I feel sure HMRC must be making a net loss on a payment as low as 10p.

Heh heh.

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PS Ozz, are we getting an update on the wedding? It was you with the SIL from hell wasn't it?

LOL yes it was me. Wedding went very well and SIL behaved.

Had an incident on boxing day where they turned up late to mums, SIL wouldn't go in the house as my dogs were there (caged up) and my dachi had bitten my niece a few months before (she did grab his bone!). So she told my mum the house stunk, told her that we should have been there (we were at the pub and she refused to come up as "PUBS ARE FULL OF DRUNKS" (err my wedding was full of drunks [her included] too but that didn't stop her wanting my niece there - there was only family in there, and drove home without seeing family.

LOL

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  • 311 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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