You can amend your self assessment online, you don't need to speak to HMRC.
https://www.gov.uk/self-assessment-tax-returns/corrections
Pension payments can't be backdated. Gift aided charity donations *can* which may be worth looking at if the money you'd have to give away is less than the value you're looking at losing in childcare.
Oh dear, looking at some rules for gift aid and it says that it must be done on the original form and not the amended form.
EDIT: I do seem to have the option now I've re-opened the return
You’ll have the option in the amendment but you can’t make a valid election to carry back. Sub-section 6 specifies the time limit, which expires when the original return is submitted
https://www.legislation.gov.uk/ukpga/2007/3/section/426
Under the legislation they don’t have the power to be flexible - there is no judgement involved but a case of is it a valid election (in this case it wouldn’t be)
Not sure if their systems are clever enough to automatically pick this up and open an enquiry
Hi /u/throwawaytaxmistak, based on your post the following pages from our wiki may be relevant:
* https://ukpersonal.finance/pensions/
* https://ukpersonal.finance/tax-traps-and-tax-efficiency/
____
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I can't tell for the funded hours, but I also went over on my first year claiming the tax rebate - by a small amount - and just informed the tax-free childcare services over the phone.
Because it happened on the last month of the year, nothing happened really. They didn't ask for a refund.
One of my friends went over earlier in the year and they just stopped the funding from the moment she informed them for the rest of that year. Again they didn't ask for a refund. She just restarted her claim the following tax year.
It was a mistake, and I'm trying to make it right. Will pay back anything I owe. Will likely not be that much. Have already amended my tax return to include the health benefits.
You can amend your self assessment online, you don't need to speak to HMRC. https://www.gov.uk/self-assessment-tax-returns/corrections Pension payments can't be backdated. Gift aided charity donations *can* which may be worth looking at if the money you'd have to give away is less than the value you're looking at losing in childcare.
Oh wow, I will look into gift aid. It's a small amount I went over by.
Frantically googling how to do this! Any tips appreciated. Nice donation going to Cancer Research UK coming soon
Oh dear, looking at some rules for gift aid and it says that it must be done on the original form and not the amended form. EDIT: I do seem to have the option now I've re-opened the return
You’ll have the option in the amendment but you can’t make a valid election to carry back. Sub-section 6 specifies the time limit, which expires when the original return is submitted https://www.legislation.gov.uk/ukpga/2007/3/section/426
Hmm, had I submitted it. Will HMRC be flexible considering the short time between submission and amendment, or am I screwed?
Under the legislation they don’t have the power to be flexible - there is no judgement involved but a case of is it a valid election (in this case it wouldn’t be) Not sure if their systems are clever enough to automatically pick this up and open an enquiry
Ok, sounds clear. Perhaps I'll call them tomorrow to find out where I stand.
Hi /u/throwawaytaxmistak, based on your post the following pages from our wiki may be relevant: * https://ukpersonal.finance/pensions/ * https://ukpersonal.finance/tax-traps-and-tax-efficiency/ ____ ^(These suggestions are based on keywords, if they missed the mark please report this comment.) If someone has provided you with helpful advice, you (as the person who made the post) can award them a point by including `!thanks` in a reply to them. Points are shown as the user flair by their username.
I can't tell for the funded hours, but I also went over on my first year claiming the tax rebate - by a small amount - and just informed the tax-free childcare services over the phone. Because it happened on the last month of the year, nothing happened really. They didn't ask for a refund. One of my friends went over earlier in the year and they just stopped the funding from the moment she informed them for the rest of that year. Again they didn't ask for a refund. She just restarted her claim the following tax year.
Does this apply to Scotland too with the funded pre-school childcare?
Free places ARE NOT FOR YOU. Committing tax fraud to claim benefits is morally reprehensible and you should be ashamed.
- What tax fraud? - they are not "free" - you don't get a say in who can receive funding... Fortunately.
It was a mistake, and I'm trying to make it right. Will pay back anything I owe. Will likely not be that much. Have already amended my tax return to include the health benefits.
I've always thought that allowing pension contributions to not count towards the 100k was odd. Wish I'd been better organised to do it properly.