Pension savings – changes to Annual Allowance helpsheet

08 January 2019

HMRC receive a high volume of questions from tax agents about what information is needed with regards to pension savings on the Self Assessment tax return.

Customers who exceed their annual allowance need to tell HMRC on their Self Assessment Return. This needs to be completed on the ‘Pension Savings Tax Charges’ section on page Ai 4 of the additional information pages.

Customers with a charge may opt for their scheme to pay it. This still needs to be recorded on their tax return but it’s important that the correct boxes are used to make sure they pay the right amount of tax.  There is quite a high error rate in this area, so to help you get this right HMRC has revised and clarified its guidance on this subject. You can find it in helpsheet HS345: section 5.


HMRC highlighted this information in a recent tax agent blog.