Paul Davies
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RE: Taking it all in cash request - Less than £4000
Thank you -
RE: Taking it all in cash request - Less than £4000
Hi, Yes, but in this case I have £155 of growth, when I cashed in the pension (value of pension was less than £4000), which I need to pay tax on. Can someone please tell me which box ,on the self assessment form, I need to declare the TAXABLE growth. Thanks In Advance -
RE: Taking it all in cash request - Less than £4000
HI, Thank you for the reply, however it wasn't the question I asked. I know that 96% of the pay-out is tax free, as it was confirmed by my pension company and financial advisor. I know that I need to declare the growth since 2023, which is taxable. The question I asked was: Which box (section / sub section), on the self assessment form to I declare the growth, which is taxable. Thanks Paul -
Taking it all in cash request - Less than £4000
Hi, I recently cashed in a workplace pension, which was valued at less than £4000. Under the rules, it appears that most of it is tax free, except any growth from a data in 2023. (not sure of the date) Can someone please tell me, on my self assessment form, which section / subsection I need to declare the growth, which is taxable. Do I need to declare the whole amount I received or just the taxable growth amount. Thanks in advance Paul