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TonyTax
TonyTax, Tax Consultant
Category: Tax
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Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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I am in the NHS pension and have a pension tax liability. I

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I am in the NHS pension and have a pension tax liability. I am completing my self assessment tax return and cant work out how / where to say that I want to use 'scheme pays' and defer the liability until I retire.
JA: Which tax year are you filing for?
Customer: last year
JA: Anything else you want the Accountant to know before I connect you?
Customer: no

Hi. My name is Tony. I'm looking at your question now and will post my answer or ask for more information here in a short while.

Is this an annual allowance charge or a lifetime allowance charge? I suspect the former.

Customer: replied 16 days ago.
I think it may be both

Thanks. My understanding is that the lifetime allowance charge would not normally arise until you draw on the fund.

 

Use the additional information pages SA101, boxes 7 to 18 as appropriate on page Ai4 here. Tell HMRC in box 19 of the SA100 tax return here that you want the pension scheme to pay the charge and to defer it.

 

If you look under "Paying the annual allowance charge from your pension savings" heading here, it refers you to PTM056300 which gives you more information.

 

I hope this helps but let me know if you have any further questions.

Customer: replied 16 days ago.
Ok thanks will see if I can find those sections

Thanks.

 

Would you mind rating my answer before you leave the site please.

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