HL 2880 to 3600

otb666

@molerat So when i ring HL back I say I want to withdraw 1397 as UFPLS  £1397 and not the whole amount?

molerat

If you want to do it that way yes.  But you don't need to ring them, I never have, the basics can be done on line and the withdrawal in the post.  You will need a paper bank statement and copy of your birth certificate to set up the withdrawals.  Likely the easiest £720 you have ever earned

otb666

@molerat I had to answer 20 risk assessment questions and they are sending me an illustration through the post. Once i have completed this and received i will do  £2153  in September and then pay 2880 back in October and repeat Thank you for holding my hand through this I very much appreciate this forum and know i lack the understanding and guts to do this otherwise

nb i paid the 2880 in feb23

molerat

The 20 questions can be done on line, you have to do it every time you withdraw.  To maximise your tax allowance make your next £2880 deposit just before 5 Jan with tax being added on 21 Feb and taking the £3600 out after 6 March. 

Qyburn

molerat said:

You will need a paper bank statement and copy of your birth certificate to set up the withdrawals.  Likely the easiest £720 you have ever earned

Really? Not sure how many have any paper bank statements nowadays. And why Birth Certificate? I don't have a clue where mine would be.

molerat

Qyburn said:

molerat said:

You will need a paper bank statement and copy of your birth certificate to set up the withdrawals.  Likely the easiest £720 you have ever earned

Really? Not sure how many have any paper bank statements nowadays. And why Birth Certificate? I don't have a clue where mine would be.

I have just checked and it is birth cert (& marriage cert if name has changed) , driving licence or passport but does still want a postal bank statement.

xylophone

I don't have a clue where mine would be.

You can always get a copy.

https://www.gov.uk/order-copy-birth-death-marriage-certificate

otb666

got the 1397 (bank statement took an age to receive in post) Now wait until September to do £2153 Thank you again for your help as extra cash is welcomed

otb666

Requested form from HL for 2153 my tax code with HL is 124T M so may have to pay a bit of tax but should get it back, then pay back in 2880 to get uplift 3600 before January. My main pension is 5734pa with tax code 1007N.  My main pension have written to say following Mcloud judgement they will write to me in september so may not be able to withdraw 3600 twice this year and may have to wait till next year dependant on if the main pension pay me more because of adjustment. I am finding it helpful to keep track on here so I dont faff it up.

Dazed_and_C0nfused

otb666 said:

Requested form from HL for 2153 my tax code with HL is 124T M so may have to pay a bit of tax but should get it back, then pay back in 2880 to get uplift 3600 before January. My main pension is 5734pa with tax code 1007N.  My main pension have written to say following Mcloud judgement they will write to me in september so may not be able to withdraw 3600 twice this year and may have to wait till next year dependant on if the main pension pay me more because of adjustment. I am finding it helpful to keep track on here so I dont faff it up.

Your HL tax code may well be 124T because HMRC's estimate of what you receive from HL is in the range 1240-1249.

If you have spare tax code allowances in the tax code at your main pension you can simply update the 1240-1249 figure on your Personal Tax Account and new tax codes will be generated which will allow HL to pay more without tax being deducted.