A direct "cost" to him? That suggests he has been charged for something? Has he been charged management fees by the pension fund company, taken directly from the fund and they have sent him an invoice?
The way you have worded this, he isn't drawing the pension for himself. When he starts to draw his pension, those will get taxed (dependant on any tax free lump sum arrangements in place, perhaps). If the pension fund pays out fees, that's nothing to do with the tax return.
Brilliant Michelle. I apologise for my interpretation, but you have understood me well.
Initially, I thought what relevance has this invoice got to do with his tax return?
I couldn't understand why my client wanted this invoice included towards having his tax return done, and hence that is why I wanted clarity on this issue.
Hi David
Isn't your client just like loads of others who go 'eek' with anything that says tax or HMRC on it, then just throws the paperwork at you to decipher or just in case you need it? I get that from mine!!
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
Every client is different. I have been doing his tax return for three years now and he hasn't really changed from being a right misery. He is moving to Spain soon so this will be his last SA I do for him.
Some people just never smile, although sometimes I find that a challenge. Ive got a client who was the same, now he smiles occasionally! Rather have a misery who supplies paperwork than a happy chappy who doesnt though
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
