Reclaiming tax from Voluntary Redundancy Payment

Barney15c

I have recently recieved my net VR  figure,  and leave my employer on 31st August.
The compensation offer was £72k  of which i will pay approx £16k on the remaining £42k (after taking into account the first £30k is tax free)  giving me a net compensation of £56k.
So it appears that this moved me into the 40% tax bracket. I was paying 20% on my £41k per annum salary.
I do not intend to work afterwards as i take my works pension in Feb 2024 (17 months time).
Will i be able to claim a tax rebate on some of the £16k or am i stuck with it.
I am totally inexperienced in tax matters and dont know if  i can claim, when i should put in a claim, or if this is something IR will do automatically or if i have to claim it myself.
Any advice would be appreciated.

chrisbur

https://www.gov.uk/government/publications/income-tax-claiming-tax-back-when-you-have-stopped-working-p50

Remember to select the option that you will have no taxable income for the rest of the tax year.

nigelbb

How old are? If approaching or over 55 have you considered putting surplus money into a SIPP to hold as cash then drawing down soon to take advantage of the 25% tax free amount then drawing down from the SIPP when you are only liable for standard rate tax?