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Where Taxpayers and Advisers Meet

Details of state pension 2014-2015

MrsSusanT
Posts:7
Joined:Mon Dec 14, 2015 12:09 pm
Details of state pension 2014-2015

Postby MrsSusanT » Thu Jan 14, 2016 9:44 pm

Hello,
Both my husband and I have submitted our tax returns for 2014-15 which included our state pension amounts. Both returns have been corrected in the Tax Calculation from HMRC because 'Annual state pension (Income box 7) has been changed to £nnn because the figure on the tax return does not agree with our records'. In both cases HMRC have quoted a higher figure for the annual state pension.
We both calculated our annual state pension by going through our bank statements and calculating the amount received over the year. This is obviously wrong, but is there somewhere I can look to find out exactly what amount we were paid (and HMRC are using) - a sort of 'P60' for the state pension. Sorry if I'm totally missing something obvious...
Sue

jpcentral
Posts:924
Joined:Wed Aug 06, 2008 3:28 pm
Location:Loughborough
Contact:

Re: Details of state pension 2014-2015

Postby jpcentral » Fri Jan 15, 2016 9:31 am

Not uncommon. You should have received a letter about your state pension shortly before the start of the tax year (probably in Feb/March 2014). This states the amount of pension you will receive in the year.

The confusion normally arises because state pension is generally paid four weekly and either the first payment may include some of the previous year's pension and/or the last payment hasn't included the final due amount for the year - which will be included in the first payment for the following year. This means that the amounts actually paid into the bank during a year may not fully represent the total actually due for that year.

Normally the difference should only be a maximum of two weeks. If it is more it is worth querying with HMRC.

HMRC now seem to be including the information online if you have an online account with HMRC.
John Perry
Central Business Services
Loughborough
http://www.centralbusiness.co.uk

MrsSusanT
Posts:7
Joined:Mon Dec 14, 2015 12:09 pm

Re: Details of state pension 2014-2015

Postby MrsSusanT » Fri Jan 15, 2016 12:49 pm

Thanks for your speedy reply. We don't have an online account at present but I expect we will need one in the future.
We will look out for the state pension notification around Feb/March time. This instance was the first year that I have taken a state pension.
Regards,
Sue

robbob
Posts:3228
Joined:Wed Aug 06, 2008 4:01 pm

Re: Details of state pension 2014-2015

Postby robbob » Fri Jan 15, 2016 3:43 pm

This instance was the first year that I have taken a state pension.
When hmrc do get it wrong it is most often the first year - i have known them incorrectly amending tax returns for this reason without checking with the DWP, i would though agree with everything jpcentral has said - small unders/overs are likely to be a timing issue particularly as this is the first year and there is likely something paid after ye for that year that hmrc would have expected you to include. As ever the lack of a P60 style confirmation always complicates things when it could easliy be done - would be so easy for DWP to state "this is your next year projected income for tax purposes" and also confirm the year just gone when they send you the annual increase notice. Do they chose to do this and makes everyones life easier - nope.


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