We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
P53Z form help please
lemonpopsicle
Posts: 663 Forumite
Hi, I'm attempting to claim back overpaid tax paid on a lump sum pension pot,using P53Z form on HMRC website, however, I've fallen at the first hurdle!
How much income did you receive from this pension before tax was taken off?
On the confirmation of payment paperwork it says
A ] Your fund value was £25716.03
B] Your tax-free cash amount £6429.01
C] Taxable amount of fund value was £19287.02
D]Tax deducted on C £3857.40
E]Total payment to you (A minus D) £21858.63
and on the P45
Total pay to date £19287.02
Total tax to date £3957.40
I actually received £21858.63
Which figure do I use, income isn't mentioned.
Thanks for any help x
How much income did you receive from this pension before tax was taken off?
On the confirmation of payment paperwork it says
A ] Your fund value was £25716.03
B] Your tax-free cash amount £6429.01
C] Taxable amount of fund value was £19287.02
D]Tax deducted on C £3857.40
E]Total payment to you (A minus D) £21858.63
and on the P45
Total pay to date £19287.02
Total tax to date £3957.40
I actually received £21858.63
Which figure do I use, income isn't mentioned.
Thanks for any help x
Life's little instructions- Treat everyone you meet like you want to be treated..Watch a sunrise at least once a year..Strive for excellence not perfection:j
£2 SC no.70 £140/£350
SPC no.73 SPC9 £248 SPC10 target £250
DFBX12 No. 069 £7719 / £7719 DEBT FREE 30/11/12
2013 mfw No.4 MORTGAGE FREE 5/8/13
0
Comments
-
HMRC are only interested in taxable cash so the figures quoted on the P45.1
-
Thanks, I'm stuck again...molerat said:HMRC are only interested in taxable cash so the figures quoted on the P45.
It says
Do you expect to receive income from any UK pension during the current tax year?
This includes income from flexible pension payments paid as lump sums.
I've ticked yes, and filled in all the details for the lump sum mentioned above. But, next page says
Have you received any pension flexibility payments paid as lump sums?
How do I know if my lump sum was a pension flexibility payment? If I tick yes they want all the details again.
Why is this so complicated?Life's little instructions- Treat everyone you meet like you want to be treated..Watch a sunrise at least once a year..Strive for excellence not perfection:j£2 SC no.70 £140/£350SPC no.73 SPC9 £248 SPC10 target £250DFBX12 No. 069 £7719 / £7719 DEBT FREE 30/11/122013 mfw No.4 MORTGAGE FREE 5/8/130
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.5K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.5K Spending & Discounts
- 245.5K Work, Benefits & Business
- 601.5K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards
