How to Get Tax Relief on Pension Contributions
For a number of reasons you might have to get tax relief on your pension contributions. This could be because the incorrect tax code might have been used or other state benefits you get may have been cut down. If you currently have more than one pension, it could be that your tax free allowance has been noted wrongly and is not being used for the correct pension. As a result of this, you can get tax relief if you have paid a lot of tax on your pension contribution. There are three methods to get tax back and it depends on your individual circumstances and the kind of pension arrangement.
Instructions
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1
Get tax relief through pay as you earn
Call the local HM Revenue and Customs tax office to claim tax back on your pension through pay as you earn. Go to the Tax Office Locator page of the HM Revenue and Customs site to find the nearby tax office. After that, enter the three digit tax office code or your pension provider reference to get tax relief on your pension contributions. Enter the zip code or town if you do not possess any of the above two codes. -
2
Contact the tax officials
On the website, press “Search” to see the nearest tax office contact details. On the other hand, get in touch with the tax office or go to the office and meet them personally. Give the tax official all of your pension details such as the name of the pension provider, pension reference number and complete name and address. If you have forgotten your pension reference number, give them your Social Security number and your date of birth. Also make sure that the information you provided is correct by double checking all of it. -
3
Be open to answer any questions from the tax official
You should be able to respond any extra questions from the tax office. This is done so that they can confirm your identity as frauds happen all the time like identity thefts. You will also be given your new tax code. It will be sent to you and your pension provider as soon as possible. The pension provider monitors the sum of tax you pay on a regular basis. Moreover, once this is done you will get your tax relief in your next scheduled payment. Remember to check if the tax refund is correctly done.
