Help filling out Form P55

Can anyone who is familiar with the P55 form help with this very simple query.
I have recently drawn an UFPLS payment using the classic figures. Total of £16,760, therefore 4,190 tax free (25%) and £12,570 taxable. £3,987.45 has been deducted in tax and since I will have no other income this year I need to fill out a P55 to reclaim the tax.

The online form asks 'do you expect the receive income form any UK pension during the current tax year' to which I've answered yes and given the details of the Pension Co and Ref. Then it asks 'How much did you, or do you expect to receive before tax is taken off'  Do I put £16,760 here or £12,570?

Also, I assume I then proceed to fill out the Pension Flexibility Payments Section, where I enter £12,570 as the pension flexibility payment and £3,987.45 as the tax deducted.

This should be simple but is ambiguous and I want to make absolutely sure I get it right.

Thanks for your help  

Comments

  • Qyburn
    Qyburn Posts: 3,384 Forumite
    1,000 Posts Fourth Anniversary Name Dropper
    Yes it's £12,570. HMRC aren't concerned about the tax free element.
  • Roger175
    Roger175 Posts: 279 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    Thanks Qyburn. Form was submitted earlier this evening and the £12,570 is what I put. Just wanted a sanity check.
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