Renta 2020 - Box asking about foreign pensions...

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rafiki
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Renta 2020 - Box asking about foreign pensions...

Postby rafiki » Sat May 22, 2021 9:13 am

One of the first boxes to be completed in the online form is the one asking for the amount of foreign pension income. I am completing a joint declaration for my wife and me. This is the first year she has foreign pension income. In that first box should our joint pension income be entered or just mine alone, adding hers somewhere else?
Brian.

AkoAko
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Re: Renta 2020 - Box asking about foreign pensions...

Postby AkoAko » Sun May 23, 2021 7:09 am

You are doing a joint return for the calculation of tax payable however you still have to input individual figures . If this is the 1st year she has an income it would be wise to do a simulation for both Joint and Individual returns . Joint returns are advantageous when only one of you has an income as it allows you to use an addition allowances that your spouse wouldn't benefit from , less so when you each have income .

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rafiki
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Re: Renta 2020 - Box asking about foreign pensions...

Postby rafiki » Sun May 23, 2021 9:58 am

Thanks. Yes, I tried the simulation yesterday. As you say, it shows a significant saving if submitting individual returns. It doesn't seem to matter what is entered in that initial box as it can be changed as one works through the online form.
Brian.


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