Hi. I posted my self assessment tax return for 2022/23 online a couple of weeks ago. My GG account shows that the return has been received by HMRC but since I sent it I have not had any correspondence from HMRC. Should I be concerned? Should I have received something from HMRC by now (an email or letter perhaps?) confirming they have received my return?
Hi. Apologies I am still not clear where I add the details of this pension on my tax return. Online on page 2 of the 'Tailor your return' section it asks 'Did you receive any UK pensions, annuities or sate benefits?'. Do I tick 'yes' here? Above you mention 'other pensions' but I was unable to find this section when I looked online. Thanks for your time.
Apologies if I was not clear. The £952 payment is a pension commencement lump sum (i.e. tax free lump sum). Some individuals take this all in one go. But, I am streaming the monies out from my pension account as a gradual form of “income”. However, my understanding is that it is not income for tax purposes. The only income I am receiving is my £1,100 per month (also from my pension account). I hope all is clear here but let me know if you have any additional questions.
I receive 2 monthly pension payments from an insurance company. One payment is for £952 that I have been advised is tax free. The other is for £1100 that is taxable. Do I have to add both of these payments to my self assessment tax return? Do I add the details on by ticking 'Any other income' on section 4 of the return?