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Posted Mon, 04 Mar 2024 10:57:16 GMT by Jay Sear
I have c£18k in a Free Standing AVC and I want to withdraw all of it in one go in the 2024/25 tax year. I have been told that HMRC will assume that this is a monthly withdrawal rather than a one off and will tax me on the basis of having an income of c£200k per annum. Is that really true and if so how do I claim the tax back? I will only have a self-employed income of less than £5k in that tax year.
Posted Wed, 06 Mar 2024 11:10:06 GMT by HMRC Admin 25 Response
Hi Jay Sear,
Please refer to:
Claim a tax refund when you've taken a small pension lump sum (P53)
Thank you. 

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