help on pension

pinoyLiz Registered Posts: 92 Regular contributor ⭐
I wonder if you can help me. I have a client who is 66 years old with various incomes from

Private Pension Provider

State Pension

Lease (50% Share of the profit)



He pays his tax under PAYE for his private pension (his PAYE code starts with letter K). I've prepared his Self-assessment tax return for him for 2007/08 and my calculation (taken into account the payment on accounts he paid for 2007/08) he is in fact due for a refund. This is actually my second client and I want to make sure that I am on the right track before passing this over to him. He actually received a Notice to file Self-assessment tax return but no forms included so I assumed that his old accountant do it online? Anyway please advice me with the following queries.

Ø Is the PAYE code incorrect? Taken into consideration that he only owns half of the profit from the lease for 2007/08 and the calculation shown on the PAYE code notice is higher?

Ø How can he file his self-assessment tax return if he hasn't received the forms from the tax office when they sent him the notice of filing? I advised him to contact the Tax office regarding the situation (I am not his agent yet so I can not contact the tax office on his behalf). Could you please clarify this to me as I need to know your point of view on this matter as it might take time for him to get back to me and this scenario keeps on running in my head especially I have only a month before the filing is due.

Ø How can he reclaim the tax? By reducing his PAYE tax for 2008/09 tax year or can he claim it back when filing his SAR through Bank transfer.

Your advice is greatly appreciated. Thank you very much.

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