SIPP Tax Relief from HMRC

General
1

Hello,
I need to claim the 25% tax relief for SIPP contributions from HMRC for year 23-24 but I am unable to get the exact amount that I have invested because it includes the rebate from HMRC as well. How can i create a report in IE to get this information clearly?
Thanks

2

The ‘rebate’ is 20% tax relief. If you are wanting to claim higher rate tax relief then the contribution you put on your tax return is the gross amount (IE including the ‘rebate’ or tax relief already received)

3

I just need to inform the HMRC about the gross amount but can’t differentiate between the rebate received and the amount invested. They want the investment amount excluding the rebate for higher tax rate. I am not self employed so no need to file self assessment.

Thanks.

4

The gross amount is the contributions plus the tax relief already claimed by IE.

5

In the app, you can click on transactions and filter for top up and tax year and that shows your contributions and the tax relief already claimed by IE

6

@ankitkja
On the website:

Log into your account and click on Transactions, then apply these :point_down: filters:

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Then add up every entry for SIPP Top Up - these are your contributions.

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7

@ankitkja
Surely you know how much money you have transferred by Direct Debit / Standing Order / Saving Plan into your SIPP and when - so you should be able to find these transactions in your bank statements / online banking?

8

I have invested in ISA and SIPP so cannot conclude which one is for SIPP or ISA from the bank account. I have already applied filters on transactions tab as below for previous tax year. if you notice just one tax rebate is received of £50 in current/previous tax year. These are my entire transactions for SIPP. I am higher tax payer so looking to claim the additional tax relief from HMRC. I not self employed so don’t do self assessment but can inform HMRC for tax refund.

Thanks for your help!
Previous tax year

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Current tax year -

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9

@ankitkja
Please change your filter from Any Transaction to Top up - this will cut out any other transactions.

In general I would say that it would be best if you email IE customer service with any further questions.

Also:

  1. you seem to have lots of sales and purchases - are you changing your portfolio often?
  2. What are all the portfolio transfers? Where are they coming from? If this is money coming from other pensions then this should not count as top ups as you would have received the rebate elsewhere previously.
  3. I can only see 1 top up of £200 (in May 2024) - for which you have received the rebate to the amount of £50 (in August 2024).