2/ First of all you need to establish if you have an AA liability in 19/20. To do that you can use the free HMRC calculator. Its not that straightforward, but I would strongly advise to do your own calculations, even if you have an accountant/advisor.
3/ You can watch my video here. I did it for the 18/19 tax year, but its the same as the 19/20 tax year and I have updated the accompanying spreadsheet https://www.youtube.com/watch?v=NcBb7ukOgR0&ab_channel=TonyGoldstone">https://www.youtube.com/watch...
4/ As noted in the video, DON& #39;T assume if you haven& #39;t received an envelope you don& #39;t have an AA charge. The scheme do not know if you are "tapered" (i.e. your taxable income was over ÂŁ110k) so your available allowance maybe as small as ÂŁ10k.
6/ OK so now, having watched the video, and used the tool / HMRC calculator, you should know if you have an AA charge for 19/20.
7/ VERY IMPORTANT: If you are an eligible clinician in England and Wales, and have an AA charge in 19/20, you would be MAD to pay the charge yourself. NHS England & Welsh government have a scheme to compensate you FULLY if you pay the charge via scheme pays
8/ The details of the scheme and FAQ are here:
https://www.england.nhs.uk/pensions/ 

IMPORTANT:">https://www.england.nhs.uk/pensions/... You MUST apply for scheme pays by 31st July 2021 to be eligible for this compensation, and to use scheme pays
9/ IMPORTANT: Even if you don& #39;t have the required information from the scheme/PCSE/Capita to know your exact charge, you MUST apply for scheme pays by 31st July 2021 - you can estimate your charge and have 4 years to amend this
10/ So you must apply for "scheme pays" using a "nomination form" - that& #39;s called an "SPE2" form in England. Like all things related to this stupidly complicated tax, that a slightly involved process - you can watch a video how to do it here: https://www.youtube.com/watch?v=cTz4j04ofqg&ab_channel=TonyGoldstone">https://www.youtube.com/watch...
11/ I have updated the calculator tool referenced in that video for the 19/20 tax year/scheme pays. But remember if you are eligible to use the England & Wales compensation scheme, do NOT pay the charge yourself, get a scheme pays loan
12/ Many of you will be aware of the ongoing "age discrimination" or "McCleod" case. There is an ongoing consultation about this which closes on 11th October. If you haven& #39;t already responded, please do so here:

http://bit.ly/SaveNHSPensions ">https://bit.ly/SaveNHSPe...
13/ Please don& #39;t ignore your 19/20 AA tax liability because of the legal case - even if you think your AA tax charge may disappear if you revert to the old schemes.
14/ And definitely don& #39;t lose the opportunity to access the scheme pays compensation scheme (deadline 31st July 2021 - don& #39;t miss it!). In addition to the scheme pays election described above, there will be a simple form to fill in as well

https://www.england.nhs.uk/pensions/ ">https://www.england.nhs.uk/pensions/...
15/ In summary - no-one is going to magically send you a bill for your AA charge

YOU need to request a savings statement if you dont have one.
YOU need to calculate if you have a charge.
YOU need to tell HMRC you have a charge.
YOU need to pay the charge (scheme pays if E&W)
16/ And finally I cannot in good conscience do a thread about AA without saying what a throughly stupid tax this is. It really is a completely inappropriate tax in the context of a DB scheme, and must be scrapped, as per the OTS recommendation
#ScrapAAinDB
17/ Clinicians would in any event be busy dealing with winter pressures, even without the added strain from COVID, & really shouldn& #39;t be dealing with this hideously complex & thoroughly unfair tax. Do the right thing @RishiSunak & #ScrapAAinDB

Please RT & share with colleagues
You can follow @goldstone_tony.
Tip: mention @twtextapp on a Twitter thread with the keyword “unroll” to get a link to it.

Latest Threads Unrolled: