Reclaiming tax after redundancy with query over pension tax free lump sum

Therese56

I was unfortunately made redundant at the end of October after a long period of furlough leave and have still not been able to find another job and want to reclaim any overpaid tax for 2020/21.  I earned £17k last year plus received a £4k redundancy payment and in December 20, I took a tax free lump sum from one of my pensions of £21k to help with my finances.  Will the tax free lump sum effectively prevent me from receiving any rebate and does anyone know which particular form I need to complete with HMRC, as it is a little bit confusing?  Also, do I need to declare the redundancy payment on the form?  I am not claiming any taxable benefits, although have now started to receive a small amount of tax credits in this new tax year.   Thanks in advance for any advice!

Dazed_and_C0nfused

You don't need to complete any forms now the tax year has ended, HMRC will automatically refund any tax overpaid.

https://www.gov.uk/tax-overpayments-and-underpayments

Why do you think the TFLS could have any impact?

[Deleted User]

You would normally claim a tax refund here:

https://www.gov.uk/claim-tax-refund

However, you will receive a message to the effect ‘your tax liability has not been calculated yet....’
It appears that you have to wait until HMRC review the year in question.

Neither the redundancy payment nor the tax free lump sum from you pension is taxable income (tax free!) and have no relevance. If you left work at the end of October I would calculate a tax repayment of £1041, assuming that you had no other taxable income since that date and that your tax code was 1250L.

Therese56

I was probably being silly about the TFLS because I realise that it is tax free per se, but I thought that it might in some way be classed as extra income, thereby pushing up my earnings and making any tax rebate null and void.  Thanks for responses.

jimmo

You should be able to claim an "Unemployment repayment" using form P50.

Claim Income Tax back when you've stopped work - GOV.UK (www.gov.uk)

 

In my days as a taxman we used to accept Unemployment repayments for a short time after the end of the tax year but it appears that nowadays HMRC will accept claims any time in the following 12 months.

PAYE94060 - PAYE Manual - HMRC internal manual - GOV.UK (www.gov.uk)

168hourweek

Are you registered on the Government gateway? 
If so log on and see what info they have
If it's all there phone up and request a tax refund
The officer will talk it through with you and if they are happy will arrange a tax refund message 
It will appear in a day or 2 you can then  request payment directly to your bank and it will arrive within 5 days
It worked for me