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Scheme Pays tax bill errors / offseting

01/05/2019 12:47:21
A member used Scheme Pays to pay a tax bill in 2015/16. They incorrectly calculated the bill as £12,107.71 rather than £4,073.53.
The 2017/18 tax charge has been calculated as £13,534.25.
The pensioner has asked if it is possible to offset the payment due against the overpayment made.
Please can advise as to whether this is an option and what the mechanics would be if it is.
Thank you, Nadine

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Re:Scheme Pays tax bill errors / offseting

02/05/2019 09:27:46
Hi Nadine,

Thanks for your question.

If the tax payer is referring to the Pensions Savings tax charge then they will have to write in to amend the 2015/16 return quoting overpayment relief as per the attached link:

SACM12150

I hope this helps.

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