The Book-keepers Forum (BKF)
The Book-keepers Forum (UK) -> Professional Book-keepers in Practice -> Pensions - lump sums on the tax return
Post Info TOPIC: Pensions - lump sums on the tax return
rachel_mclean


Guru

Status: Offline
Posts: 625
Date:
Pensions - lump sums on the tax return
Permalink Closed

Hi can anybody help me with this?

 

I have a client who has 3 pensions, 2 of which have been taxed and I have put the total gross and total tax paid in these boxes in the tax return and that's all fine (I think!)

  • Pensions (other than State Pension), retirement annuities and taxable triviality payments:
  • Tax taken off pensions (other than State Pension), retirement annuities and taxable triviality payments:

 

He has also had 2 'tax free lump sum' payments from 2 of the providers above as well as the regular pensions.

Please can anyone tell me where these go on the tax return? I initially thought to add them in the totals above and after a bit of reading realised this was wrong as they are not to be taxed. BUT where on the tax return do they go????

 

Thanks in advance for any help 

Rachel

 



__________________

Rachel
Cheshire


Master Book-keeper

Status: Offline
Posts: 8646
Date:
Permalink Closed

Hi Rachel
If they are tax free they don't go on the tax return, bit like Isa interest and tax free element of redundancy pay, is my understanding.

__________________

 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position
rachel_mclean


Guru

Status: Offline
Posts: 625
Date:
Permalink Closed

Joanne THANK YOU very much. I've googled it in a different way (HMRC) and yes confirms what you have said.

Thanks


__________________

Rachel
Page 1 of 1  sorted by
 
Quick Reply

Please log in to post quick replies.
The Book-keepers Forum (UK) -> Professional Book-keepers in Practice -> Pensions - lump sums on the tax return
Tweet this page Post to Digg Post to Del.icio.us
Members Login
Username 
 
Password 
    Remember Me  
©2007-2024 The Book-keepers Forum (BKF). All Rights Reserved. The Book-keepers Forum (BKF) is a trading division of Bookcert Ltd. Registered in England Company Number 05782923. 2 Laurel House, 1 Station Rd, Worle, Weston-super-Mare, North Somerset, BS22 6AR, United Kingdom. The Book-keepers Forum and BKF are trademarks of Bookcert Ltd. This forum is a discussion forum only. There will usually be more than one opinion to any question and any posting should not be viewed as a definitive solution. No responsibility for loss occasioned to any person acting or refraining from action as a result of any posting on this site is accepted by the contributors or The Book-keepers Forum. In all cases, appropriate professional advice should be sought before making a decision. We reserve the right to remove any postings which are offensive, libellous, self-promoting or engaged in covert marketing. We will not notify users of removals. The views expressed in the forum posts are those of the individual and do not necessary reflect or agree with those of The Book-keepers Forum. Any offensive or unsuitable posts will be removed by the moderators. Any reader of this forum can request for a post to be looked into by sending an email to: bookcertltd@gmail.com.

Privacy & Cookie Policy  About