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    • clivep
    • By clivep 26th Jul 15, 10:32 AM
    • 280Posts
    • 129Thanks
    P55 - Should UFPLS you're requesting a refund for be included under Pension Income?
    • #1
    • 26th Jul 15, 10:32 AM
    P55 - Should UFPLS you're requesting a refund for be included under Pension Income? 26th Jul 15 at 10:32 AM
    This was raised on another thread but I'd like more people's views if possible...

    At the beginning of the P55 it states "please complete this form with details of any other income that you expect to receive during the tax year" so according to that I was correct to exclude the UFPLS I'm claiming the tax refund for in the section for UK pension income.

    You don't get a P45 for an UFPLS so now they have corrected their form and no longer ask for it. They don't request a copy of the paperwork that accompanied the UFPLS payout so I'm a bit unsure how they know the details of this but imagine it's from the information sent electronically from the pension provider.

    A recent question on the other thread highlighted an anomaly on the P55 so Iím unsure whether or not my P55 was completed correctly.

    In the UK pension income section the "?" pop-up says "Include in this section income from pension annuities, workplace, occupational and personal pensions, small pensions (trivial commutation) and flexible pension payments paid as lump sums".

    The old version P55 that I submitted is the one that stated "Use this form to claim back tax we owe you on a flexibility payment you recently received where you have only taken one payment and do not intend to take a further payment this tax year" before they changed this limitation.

    So since with this version P55 they were saying only 1 UFPLS in the year and they want UFPLS details included under UK pension income then would this not mean that the lump sum I'm claiming the tax refund for should indeed be included?

    I sent my P55 to HMRC on 21st May and their priority turnaround of 30 days has been a bit off the mark as Iíve not received an acknowledgement of my request yet alone the refund.

    I have just sent another P55 with the UFPLS details given under UK Pension Income in case this turns out to be required.

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    • Rafonso76
    • By Rafonso76 12th Oct 16, 11:39 AM
    • 2 Posts
    • 0 Thanks
    • #2
    • 12th Oct 16, 11:39 AM
    • #2
    • 12th Oct 16, 11:39 AM
    Just filling up the P55, straggling with question, 16, and 17, also 18 and 19 , I appreciate any help, thank you
    • dunstonh
    • By dunstonh 12th Oct 16, 11:51 AM
    • 91,128 Posts
    • 58,147 Thanks
    • #3
    • 12th Oct 16, 11:51 AM
    • #3
    • 12th Oct 16, 11:51 AM
    16: estimate (probably zero)
    17: estimate (probably zero)
    18: yes or no
    19: estimate
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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