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Posted Fri, 20 Jan 2023 16:55:58 GMT by Sylvia
I am completing my 2021/22 self-assessment. I started receiving a private pension in January 2022 and the P60 from the company shows that I have paid £160 tax for the period to April. However, I also received a lump-sum in January 2022 but this isn't shown on the P60. I believe that part of the lump-sum is tax free? Where on the tax return should I enter the lump-sum amount?
Posted Tue, 24 Jan 2023 11:33:35 GMT by HMRC Admin 17

Hi,
 
There is guidance on pension payments at :

www.gov.uk/tax-on-pension/tax-free  ) .

Usually, 25% of the lumpsum is tax free. 

Where part of the lump sum is taxable, this is reported on SA101, which can be found at :

Additional information    .

If you are submitting a tax return online, you will need to tailor your return and tick yes to the box
"Did you receive any other UK income, for example, employment lump sums, share schemes, life insurance gains?"
on page 2 of 3.

Thank you.

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