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Posted Wed, 25 Oct 2023 07:15:22 GMT by Sue Nicola
I am self employed AND employed. I do a self assessment form each year. My question is - I am about to get a tax free 25% lump sum from a pension. Although this amount is tax free and is not taxable income, do I still need to inform HMRC about it anywhere on the tax return ? It's a Civil Service pension so I know that tax will be deduced at source from the monthly payments, so my question is specific to the 25% tax free lump sum.
Posted Fri, 27 Oct 2023 10:55:11 GMT by HMRC Admin 20 Response
Hi Sue Nicola,
No, you don't declare the tax free element anywhere.
Thank you.


 

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