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Sam
Sam, Accountant
Category: Tax
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I have just had a tax summary /15 it says i have a

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i have just had a tax summary for 2014/15 it says i have a personal pension income which i do not have
Submitted: 1 year ago.
Category: Tax
Expert:  Sam replied 1 year ago.
Hi Sadly s many of the summaries bear no resemblance to income actually received either in style or amount, and these forms are merely meant to provide you with an idea of how your tax and National Insurance contributions are made up and how they are allocated for public spending.HMRC have made the following formal statementThe tax summary is a snapshot of your income that HMRC knows about and your taxes paid at a particular time. HMRC may have found out new or different information about you before or since your tax summary was created. For example:your circumstances may have changed, for example if your tax code has changed, a previous estimate of your income or deductions has been updated, you’ve had a refund of tax or had to pay tax back to HMRC, or your benefits from your employer have changedsome taxable benefits are not shown, such as Bereavement Allowance and Carers Allowance, because the rules on whether they are taxable are more complex and may involve another person’s detailscalculating your State Pension amount as an annual figure may create a slight discrepancy compared to your statement of which is based on weekly incomedetails of income or pension on your bank statement may be shown net of deductions while income or pension figures on the summary are shown before deductionsYou don’t need to contact HMRC about any difference as the tax summary is for information only. I have added the link from the HMRC website that explaines the purpsoe of these tax summaries. https://www.gov.uk/guidance/annual-tax-summaryDo let me know if I can assist any further ThanksSam
Customer: replied 1 year ago.
then why does it say personal pension income £14814.49
Expert:  Sam replied 1 year ago.
Hi AS already advised - as HMRCs sytem is making so many mistakes - and I have already added the link in to advise you this is the statement made by HMRC - I cannot explain exactly why the tax system is making all these mistakes, it has been the same for the last 3 years and no matter how many complaints are made, this does not improve. But you can ignore it as its merely a bit of paper to advise the individual where their supposed share of tax and National Insurance paid is used for - its for information only and is NOT a representation of your tax position at all. Thanks Sam

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