Reporting a pension annual allowance breach and paying the tax charge скачать в хорошем качестве

Reporting a pension annual allowance breach and paying the tax charge

If you have breached the annual allowance – the amount that can be contributed into your pension each tax year – it’s your responsibility to report it to HMRC, and you usually have sole liability for paying the charge. In this video I explain how to report a breach via your Self Assessment tax return and which forms to complete, who is liable for Annual Allowance, Tapered Annual Allowance and Money Purchase Annual Allowance tax charges, and where carry forward rules may apply. HMRC Annual Allowance calculator: https://www.tax.service.gov.uk/pensio... Other videos you might like: The Annual Allowance explained:    • The Pension Annual Allowance explained 2021   The Money Purchase Annual Allowance (MPAA) explained:    • The MPAA (Money Purchase Annual Allowance)...   Tapered Annual Allowance explained:    • The Tapered Annual Allowance explained   Pensions Annual Allowance and the carry forward rules:    • Pensions Annual Allowance - Use it or lose...   Thanks for checking out my YouTube channel - I’m Justin King and my aim is to help people to live successful lives. That often involves understanding your money. If you enjoy this video, please press the like button to help more people like you find my channel. If you're planning your retirement and want to make the best use of your wealth to provide for your family throughout retirement and beyond, or work out how best to pay for a loved one’s care, I may be able to help you. As a Chartered Financial Planner at boutique retirement planning practice, MFP Wealth Management, I help successful people retire with complete financial confidence. To explore whether I could help you, get in touch at https://www.mfpwealthmanagement.co.uk. Connect with me: On Twitter:   / justinkingcfp   On LinkedIn:   / justinking-online-retirement-planner-ifa   Or check out my podcast: https://www.theretirementcafe.co.uk/ This video is for information and entertainment only. Nothing on this channel constitutes financial advice. Please do not make any decisions based on the contents of my videos; seek professional independent financial advice first!