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SIPP UFPLS Advice

Having just turned 55 I decided to take a small UFPLS payment.
I got taxed around £800 but as I'm retired with not much personal income I have completed this form a form to claim the emergency tax back.

In the mean time my provider Hargreaves Lansdown have sent details of my payment and in the letter stated that I must inform the HMRC within 91 days of all my MPAA providers.

With me already telling the HMRC that I have taken a UFPLS when completing the above form, and the fact I will not be going over the £10k MPAA limit now it has been trigged do I have still email them or send them a letter within this 91 days explaining I've taken my first UFPLS?

The SIPP with HL is the only one I pay into (and take money out of).

Thanks.

Comments

  • Notepad_Phil
    Notepad_Phil Posts: 1,578 Forumite
    Fifth Anniversary 1,000 Posts Name Dropper
    edited 6 July 2024 at 11:38AM
    ...
    In the mean time my provider Hargreaves Lansdown have sent details of my payment and in the letter stated that I must inform the HMRC within 91 days of all my MPAA providers.
    ..
    Has your post garbled up the text a bit?

    It's been a few years, but when I first took a UFPLS I was told to inform any other pension providers that I was with, but nothing about telling the HMRC. It went on to say that I could be fined by the HMRC if I didn't do this within 91 days, but definitely nothing about having to inform the HMRC itself. So if you've been told to do so, then this would seem to be a new requirement, and worth your while to contact Hargreaves Lansdown to ask for details on how you're supposed to do so.
  • Marcon
    Marcon Posts: 14,658 Forumite
    Ninth Anniversary 10,000 Posts Name Dropper Combo Breaker
    Having just turned 55 I decided to take a small UFPLS payment.
    I got taxed around £800 but as I'm retired with not much personal income I have completed this form a form to claim the emergency tax back.

    In the mean time my provider Hargreaves Lansdown have sent details of my payment and in the letter stated that I must inform the HMRC within 91 days of all my MPAA providers.

    With me already telling the HMRC that I have taken a UFPLS when completing the above form, and the fact I will not be going over the £10k MPAA limit now it has been trigged do I have still email them or send them a letter within this 91 days explaining I've taken my first UFPLS?

    The SIPP with HL is the only one I pay into (and take money out of).

    Thanks.
    You only need to notify other pension providers if you are actually paying in to their DC arrangement - so if your case, there's nobody you need to notify.
    Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!  
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