I'm just finalizing my 22-23 tax return.
I very deliberately exceeded my annual pension allowance in this tax year (this is all via my employer's pension scheme, no separate SIPP), knowing I had some unused annual allowance from 19-20 I could use.
Do I have to report this in any fashion on my tax return? I can see a spot where I could report an exceeded annual allowance, but no corresponding place to report that it is covered by the carry forward, so do I simply treat it as not having exceeded the annual allowance so no need to report it?
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Foolish annual allowance question
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Re: Foolish annual allowance question
I very deliberately exceeded my annual pension allowance in this tax year (this is all via my employer's pension scheme, no separate SIPP), knowing I had some unused annual allowance from 19-20 I could use.
Do I have to report this in any fashion on my tax return? I can see a spot where I could report an exceeded annual allowance, but no corresponding place to report that it is covered by the carry forward, so do I simply treat it as not having exceeded the annual allowance so no need to report it?
I did the same, exceeded my annual pension allowance for 22/23 - I use TaxCalc software.
In the section of additional information “Pension savings tax charges” on page 4 ...
Amount saved towards your pension, in the period covered by this tax return, in excess of the Annual Allowance - in box 10
and the pension scheme reference number - in box 12 (AJ Bell - 605674RH)
Seemed to work as shows up in Annual Pension Allowance Summary as allocated to 2019/20 year.
hope that helps
cheers
PB
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- Lemon Half
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Re: Foolish annual allowance question
See my new thread on this , as I missed the well-hidden Ai3 Box 10...
Pension allowance carry forward- declaring?
Pension allowance carry forward- declaring?
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- Lemon Half
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