Just filling in the Self-Assessment for 2014-2015 and need to figure out how to include the withdrawals from my recently setup flexible drawdown pension (worth around £50K). Two points so far:
1. I took out the 25% tax-free amount allowed. Do I actually have to enter that figure (£12.5K) anywhere on the form ?
2. I took an additional £6000. I included that in the 'Pension Received' box. The tax owed was correctly evaluated, but now the system is assuming that I will withdraw a similar amount next year and is telling me I need to pay additional tax in Jan/Jul 2016. How do I enter it as a one-off withdrawal so I don't get billed for the extra tax ?
Thanks
Al
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