Taking the last of my Tax Free Lump Sum

jim8888

I am nearing the maximum TFLS I can take from my pensions, given the current allowance of £268,275. This is based on my own calculations from what I've already taken from various pensions (with different providers), but is it my responsibility to monitor this, or is does HMRC keep track of it too? If so, can I check with them what I have left to take? 

DRS1

I thought the pension provider would carry out a check to make sure you weren't going over the allowance.  I know I had to fill out a form the last time I took a TFLS.  

DavidT67

jim8888 said:

I am nearing the maximum TFLS I can take from my pensions, given the current allowance of £268,275. This is based on my own calculations from what I've already taken from various pensions (with different providers), but is it my responsibility to monitor this, or is does HMRC keep track of it too? If so, can I check with them what I have left to take? 

It is your responsibility to manage your affairs.  HMRC only looks into matters retrospectively.  The pension provider only know what you tell them regarding other pensions.  

I had to provide my DC pension provider with paperwork from my DB pension administrator regarding PCLS taken as part of the application to take a TFLS via FAD.  I've now taken £268,275.00 plus the three £10K small pots