{"id":260125,"date":"2025-11-04T02:47:15","date_gmt":"2025-11-04T02:47:15","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/260125\/"},"modified":"2025-11-04T02:47:15","modified_gmt":"2025-11-04T02:47:15","slug":"hmrc-warning-over-change-to-pension-tax-rules-which-kicked-in-on-september-1","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/260125\/","title":{"rendered":"HMRC warning over change to pension tax rules which kicked in on September 1"},"content":{"rendered":"

HMRC has tweaked pension tax rules – with a change from September 1. The taxman, now working under the Labour Party government, <\/a>changed things two months back, introcucing stricter rules for claiming pension tax relief.<\/p>\n

It now requires everyone to provide evidence when claiming higher or additional rate relief. Previously, only those contributing over \u00a310,000 per year were required to provide proof.<\/p>\n

This change primarily affects pension savers in \u201crelief at source\u201d <\/a>schemes and personal pensions such as Self-Invested Personal Pensions (SIPPs). To claim higher relief, you will need to provide HMRC with evidence of your pension contributions during the tax year.<\/p>\n

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AJ Bell said: “Claiming pension tax relief may feel like a pain but it could net you thousands of pounds. To start with, the best thing to do is find a payslip. That should show your National Insurance number and any contributions made to your pension.<\/p>\n

“You then need to find out what type of scheme you\u2019re in. Some schemes, normally known as \u2018net pay\u2019 arrangements, will pay pension contribution before any tax is paid.<\/p>\n

“In this case income tax won\u2019t have been deducted prior to the money being paid into a pension, meaning you\u2019re already getting the full rate of relief and don\u2019t need to claim.<\/p>\n

“But if your pension contributions are made after tax, normally described as \u2018relief at source\u2019 then your company will be making tax deductions and then calculating pension contributions.<\/p>\n

“The pension scheme will automatically claim back 20% basic rate relief, but you must then claim the additional 20% or 25% relief yourself.<\/p>\n

“If you can\u2019t tell from the information on your payslip what type of scheme you\u2019re in, then contact your employer or the pension provider and ask them to tell you.<\/p>\n

“To claim you\u2019ll need to contact HMRC directly and there are a few different ways in which you can do this. If you complete a tax return, you can include the information there and recover any tax relief owed.<\/p>\n

“If you don\u2019t usually have to complete a tax return, you can claim the extra relief directly online from HMRC. You can also write to them, although it will take longer to process.”<\/p>\n","protected":false},"excerpt":{"rendered":"HMRC has tweaked pension tax rules – with a change from September 1. The taxman, now working under…\n","protected":false},"author":2,"featured_media":260126,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[45,49,48,133,28922,28088,120595,98634,120594,3398,120593,131,132,120596,64691,120592],"class_list":{"0":"post-260125","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-business","9":"tag-ca","10":"tag-canada","11":"tag-finance","12":"tag-hmrc","13":"tag-income-tax","14":"tag-pension-contribution","15":"tag-pension-contributions","16":"tag-pension-provider","17":"tag-pension-scheme","18":"tag-pension-tax-relief","19":"tag-personal-finance","20":"tag-personalfinance","21":"tag-tax-deductions","22":"tag-tax-relief","23":"tag-tax-rules"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/260125","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=260125"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/260125\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/260126"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=260125"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=260125"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=260125"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}