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Hello, the article above mentions that pensions annual allowance tax charge is payable by 31 January following the tax year, whether it is settled by the individual or the pension scheme. There is also a deadline of the first anniversary of 31...

Hello, the article above mentions that pensions annual allowance tax charge is payable by 31 January following the tax year, whether it is settled by the individual or the pension scheme. There is also a deadline of the first anniversary of 31 July following the end of the tax year in question for notifying the scheme administrator that the taxpayer has opted for the 'scheme pays' arrangement - does this mean that, taking 2018/19 as an example if the scheme administrator pays the tax charge after 31 January 2020, there is interest added by HMRC?
thanks, Helen

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