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Tax code for SIPP withdrawal

aroominyork · 2026-02-15 13:41:15

I just made my first crystallised SIPP withdrawal (I made a PCLS one earlier) of £13,700 but only received £9156.80. On a tax code of 1257LX that seems to make sense, albeit that my online HMRC account shows estimated tax for the year of £226. My question is whether every SIPP withdrawal will be taxed like this, and if not…

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aroominyork Posts: 3,916 Forumite

19 April at 12:47PM edited 21 April at 8:29AM

Yes, I'll call ii.
BR is shown on the PAYE page of Gateway:

Monday morning update… spoke with ii who only had 1257L on file. Then spoke with HMRC who initiated sending the correct code to ii while I was on the call, saying it should be with ii within ten days. Hopefully all sorted.
Tuesday morning update... ii now shows BR (in fact BR Cumulative, but I think Cumulative is meaningless on a BR code).

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