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Posted Wed, 03 Jan 2024 14:50:17 GMT by
I got a PLS last year and was told it was tax free. I do not know whether to include it in my income for last year, and how it will be differentiated from the ongoing pension payments. I am under the £40,000 annual threshold which I read about in the HMRC notes for the pension section, but I just don't know whether I need to declare this or not. And whether it should be declared as a separate pension from the ongoing job pension, as that has been taxed.
Posted Mon, 08 Jan 2024 12:46:36 GMT by HMRC Admin 10
You would only declare the amount of lump sum above the tax free amount in your tax return.

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