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More Content

AVC refund

Julie Hewitt
Suggested
Posted By

We have a situation with an employee who has continued to pay an AVC monthly through payroll since Sept 2020 when this should have been cancelled. We did ask at the time if they wanted to continue.They were not aware that the AVC was connected to the Pension Scheme which the school opted out of from Sept 20.

The contributions have been returned to the school and we now need to account for the tax implications going back to Sept 2020 in order to return the funds to him. I assume that this would need to be done via rollback?

Having not used this before need some guidance on how to do this please.

Thank you

Parents
  • 0

    Hi Julie

    You can rollback as far as you need too but Payroll can only send submissions for the past two years. in terms of rolling back you would do a roll back for each tax year starting in the most recent one and working backwards until you are at the point you need to start reprocessing.

    For example, if currently employed you would roll back to period 1 of this tax year, change process date in payroll to 05/04/2025, then rollback that tax year to period 1 and repeat the process until you are back to where you need to be.  

    Regards 

    Phill Sage UKI

Reply
  • 0

    Hi Julie

    You can rollback as far as you need too but Payroll can only send submissions for the past two years. in terms of rolling back you would do a roll back for each tax year starting in the most recent one and working backwards until you are at the point you need to start reprocessing.

    For example, if currently employed you would roll back to period 1 of this tax year, change process date in payroll to 05/04/2025, then rollback that tax year to period 1 and repeat the process until you are back to where you need to be.  

    Regards 

    Phill Sage UKI

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