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Posted Sat, 30 Dec 2023 11:22:05 GMT by HMRCQuest51 Jones
Hi, I am retired and make a self-assessment return each year to report overseas pension income that is taxed only in the UK. I recently found out that from 2016 I was eligible for another overseas pension that again is taxable only in the UK. This new annual payment is small, and I will report it in my 23/24 self assessment and in future self assessments. But I have also received back payment for the years 2016 to 2022, as a lump sum. Should I include this lump sum in my 23/24 self assessment (this will not take me into a higher tax bracket)? Or should I declare it directly to HMRC? Thanks.
Posted Tue, 09 Jan 2024 13:55:35 GMT by HMRC Admin 32

As it is paid in 2023 to 2024, you will declare the full amount in the 2023 to 2024 tax return. It if is beneficial to you to have the backdated amount reallocated to the correct years, you can submit a claim in writing for this to be done. The claim must show the years and amounts involved and cannot be dealt with until the return is received. The claim, if appicable, should be sent to:

HMRC, PAYE & Self Assessment

Thank you.

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