Ade Leech
Joined: 1/30/2023
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Lump sum private pension (cashed in) - Self Assessment query
I took a lump sum from my private pension pot which has taken me over £50k and will owe tax on child benefit for 21-22. However, the sum I received was reduced to pay the tax on 75% of the total I received. I entered the income on the "Other Taxable Income" section, was this correct? The final calculation is stating I owe tax again on the whole figure? Where is the section for entering tax already paid on the lump sum? Should it have been entered on the capital gains section?