Tax returns for Annual Allowance

28 January 2020

There has recently been a huge volume of cases referred through the ASCL Hotline following letters sent jointly by the Teachers’ Pension Scheme and HMRC regarding non-payment of Annual Allowance tax charges for encompassing several tax years.

It’s important that all members check their Teachers’ Pension online account regularly to see if they have received a Pension Savings Statement detailing whether they have exceeded their allowance. These statements usually come out in October; however many members have missed them and are now receiving more direct information from TPS/HMRC.

For further information, see our guidance paper on Pensions and Tax Liability.

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