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The cut-off dates for notifying us of changes to your income can be found in the tables below.
Please note we must receive your instruction to set up or change your income requirements by 5pm on the cut-off date in order for the change to be effective for the following month. We’ll only be able to meet the cut-off date if all our requirements have been met. If you need clarification of any of our requirements, please contact us.
Modular iSIPP, iSIPP, Wrap SIPP, Partnership SIPP, Private Client SIPP
Payroll date: 1st of each month (where applicable)
| Month | Cut off date |
|---|---|
| 01 January 2022 | 15 December 2021 |
| 01 February 2022 | 18 January 2022 |
| 01 March 2022 | 15 February 2022 |
| 01 April 2022* | 18 March 2022 |
| 01 May 2022 | 14 April 2022 |
| 01 June 2022 | 18 May 2022 |
| 01 July 2022 | 17 June 2022 |
| 01 August 2022 | 18 July 2022 |
| 01 September 2022 | 17 August 2022 |
| 01 October 2022 | 19 September 2022 |
| 01 November 2022 | 18 October 2022 |
| 01 December 2022 | 17 November 2022 |
| 01 January 2023 | 15 December 2022 |
*Typically in April each year we won’t continue trying to pay a failed income payment beyond the end of the tax year (unlike other months where we’ll continue to try and pay until the middle of the following month). This is because if we pay from 6 April onwards it could mean the client receives 13 payments in the following tax year which could affect their tax position. This April, the last day we can actually pay income is Tuesday 5 April for this tax year. To be able to pay the income by then there MUST be cleared funds in the Cash account, by 4 April. Please make sure there are enough cleared funds for any fees (either James Hay or Adviser fees) that could affect the trustee cash balance before the income is paid.
You can amend your income, and convert from capped drawdown to flexi-access drawdown, easily through your James Hay Online account. Please log in and go to the Portfolio > Income Summary tab to request any changes.
If you do not have access to James Hay Online, you can register here. A registration code will be sent to your home address within five working days. You must validate your account by entering the registration code before you can make any changes to your income.
If you are concerned whether your request will reach us on time, or if you experience any issues, please contact your Customer Support Team or call us on 03455 212 414.
If you need to speak directly to HM Revenue & Customs about anything relating to tax, including changes to your tax code, please call 0300 200 3300. For reference, our payroll number is 503/W40774.
IPS Pension Builder SIPP & IPS (2008) SIPP
Payroll date: 9th of each month (where applicable)
| Month | Cut off date |
|---|---|
| 08 January 2022 | 17 December 2021 |
| 09 February 2022 | 21 January 2022 |
| 09 March 2022 | 18 February 2022 |
| 08 April 2022 | 22 March 2022 |
| 09 May 2022 | 19 April 2022 |
| 09 June 2022 | 19 May 2022 |
| 09 July 2022 | 22 June 2022 |
| 08 August 2022 | 20 July 2022 |
| 09 September 2022 | 22 August 2022 |
| 07 October 2022 | 20 September 2022 |
| 09 November 2022 | 21 October 2022 |
| 09 December 2022 | 22 November 2022 |
| 09 January 2023 | 16 December 2022 |
IPS SIPP & IPS Family SIPP
Payroll date: 21st of each month (where applicable)
| Month | Cut off date |
|---|---|
| 21 January 2022 | 04 January 2022 |
| 21 February 2022 | 02 February 2022 |
| 21 March 2022 | 02 March 2022 |
| 21 April 2022 | 31 March 2022 |
| 20 May 2022 | 03 May 2022 |
| 21 June 2022 | 31 May 2022 |
| 21 July 2022 | 04 July 2022 |
| 19 August 2022 | 02 August 2022 |
| 21 September 2022 | 02 September 2022 |
| 21 October 2022 | 04 October 2022 |
| 21 November 2022 | 02 November 2022 |
| 21 December 2022 | 02 December 2022 |
| 20 January 2023 | 03 January 2023 |
If you are concerned whether your request will reach us on time, or if you experience any issues, please call us on 03333 205 392.
If you need to speak directly to HM Revenue & Customs about anything relating to taxation, including changes to your tax code, please call 0300 200 3300. For reference, our payroll number is 794/R297.