Pension savings
If your client is member of a UK-registered pension scheme, the pension scheme administrator will advise of any pension savings tax charges that may apply.
| Option | Description |
|---|---|
| Name of pension scheme |
The name of the scheme will be saved and displayed in the navigator and the Other income Data schedule. You will need to enter a name to be able to save these details. |
| Pension scheme tax reference number |
You can enter the number for reference. This is usually in the format of eight numbers and two letter. If you need to enter pension savings in excess of the Annual Allowance you will need to enter the reference number to complete the return. |
| Carry forward to next year | Tick this box if you want to carry this information forward when you perform a Year update. |
| Pension benefits in excess of Available Lifetime Allowance | A tax charge may apply if the standard lifetime allowance is exceeded when pension benefits from a UK-registered pension scheme commence. Enter the details provided by the pension scheme administrator, including any tax already paid by the pension scheme. |
| Pension savings in excess of Annual Allowance |
The Annual Allowance determines the maximum amount on which tax relief is available. Enter details of the excess of the total amount saved towards your client’s pension benefits in registered pension schemes during ‘pension input periods’ ending in the tax year above the total of the Annual Allowance plus any unused Annual Allowance available from the three previous tax years. Amounts saved towards pension benefits include:
Enter the amount of any tax paid or payable by the pension scheme. |
| Unauthorised payments from a pension scheme |
Enter the amount of any unauthorised payments made from the details provided by the scheme administrator of a UK-registered pension scheme. If a deduction has been made to cover a tax liability of the pension scheme before the payment was made, enter the amount of the unauthorised payment before the tax was deducted. |
| Overseas pension schemes and transfer charges |
Pension savings tax charges may apply to overseas pension schemes that are not registered in the UK, unless the overseas scheme does not have any UK tax-relieved funds, or funds transferred from a UK-registered pension scheme. You may need to enter lump sum payments from an overseas pension scheme where there is no further entitlement to benefits under the scheme. Include any foreign tax paid on the lump sum payment. Use the Value subject to overseas transfer charge and Tax paid by pension on overseas transfer charge boxes to report transfers to an overseas pension scheme on boxes 11.1 and 11.2 on page Ai 4 of the Additional information supplementary pages (SA101). |
Further details on pension savings can be found in Self Assessment Helpsheet HS345.