Pension tax relief can now be claimed online
Higher and additional rate taxpayers can use a new online form to claim additional tax relief on pension contributions. Can you accelerate relief?
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Government launches consultation package on HMRC powers and tax administration
The government has launched a wide-ranging package of consultations on tax administration, including proposals to strengthen HMRC's debt recovery powers, modernise tax agent regulation and expand the use of digital services. Several of the measures could have significant implications for taxpayers and advisers. What has been proposed?
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What are HMRC’s new procedures for export evidence?
HMRC has updated its guidance about the proof of export you must retain if you ship goods abroad and zero-rate the sales. How will the new guidance affect your business?
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Getting out of the child benefit tax trap
You expect to earn over £60,000 for this tax year which means you may have to pay back some or all of your family’s child benefit due to the high income child benefit charge (HICBC). Is it possible to reduce the charge?
HMRC has launched a new online form to make it easier for taxpayers to claim additional tax relief on their pension contributions. Claimants can login using their Government Gateway user ID and will need to supply proof of the pension contributions from the pension provider.
The service is only available to taxpayers that are not in self-assessment, i.e., taxpayers that only have PAYE income, whose marginal rate of tax is 40% or 45%. This would only be necessary where there is further tax relief to claim, such as where personal pension contributions are made or workplace pension contributions that are not under a net pay arrangement. Advisors cannot use the online service and must continue to make such claims for clients by post.
Once the form has been submitted, HMRC should respond within 28 days which is much quicker than if the claim is sent by post.
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