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Local Govt Pension


Roz

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I will be declaring my pension for the first year this year, and want to make sure I get it right!

I am now in receipt of a UK pension, plus a local govt (teachers) pension and two small AVCs.  My question is: can I lump all of my TP and AVCs together? Apparently technically an AVC is an Annuity not a Pension (I was corrected by the person I was talking to when organising the payments when I referred to it as 'pension') But on the UK Pensions website, they seemed to be regarded as the same thing.  If my AVCs (which are directly linked to my TP) are not considered 'pension' and have to go in a different box on the tax form, presumably I will have to try and claim back all of the first year's tax I'm paying?

Also this reminded me that we have never had our tax refund on savings applied for last year - is anyone else still waiting?  It's a very small amount - but it's ours!

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[quote user="Roz"]I will be declaring my pension for the first year this year, and want to make sure I get it right!

I am now in receipt of a UK pension, plus a local govt (teachers) pension and two small AVCs.  My question is: can I lump all of my TP and AVCs together? Apparently technically an AVC is an Annuity not a Pension (I was corrected by the person I was talking to when organising the payments when I referred to it as 'pension') But on the UK Pensions website, they seemed to be regarded as the same thing.  If my AVCs (which are directly linked to my TP) are not considered 'pension' and have to go in a different box on the tax form, presumably I will have to try and claim back all of the first year's tax I'm paying?

Also this reminded me that we have never had our tax refund on savings applied for last year - is anyone else still waiting?  It's a very small amount - but it's ours!

[/quote]

Hi,

     As your AVCs are connected to  your teacher's pension they should be declared here as pension, not annuity. Your teachers pension, which will always be taxed in the UK should be declared on form 2047 sec VII , and the net transferred to 2042 box TI, it will not be taxed in France but will be taken into account to calculate your french tax rate. The AVCs should,I think, be declared on 2047 page 1 "pensions rentes etc" added to your state pension, and 2042 page 3 "pensions rentes etc" again added in with the state pension, but to be sure you should check with HMRC, as to whether they come under UK tax as part of your teachers pension, or , as they are paid by a third party , they are treated like a private pension, and taxable in France--I have assumed the latter. If so you should complete form "France Individual" in order that the AVC provider is instructed to pay the AVCs gross .

     I say all the above with a small proviso--the system of dealing with UK taxable (french exempt) income has changed slightly and the forms when they are issued may be different this year.

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