Adding Pension Lump Sum to Tax Return

[Coys1882]

I took a tax free lump sum from one of my private pensions in the 2024-25 tax year. The maximum I could take was calculated by my financial advisor and she dealt with the pension provider, so the whole thing went smoothly.

Where do I declare the lump sum on my 2024-25 self assessment tax return? Or is that handled by the pensiuon provider?

[darthblingbling]

Fairly sure there is nothing you need to report as it's free

[Coys1882]

Thanks. I'll ignore it then.

[william_Morin]

I took a tax free lump sum from one of my private pensions in the 2024-25 tax year. The maximum I could take was calculated by my financial advisor and she dealt with the pension provider, so the whole thing went smoothly.

Where do I declare the lump sum on my 2024-25 self assessment tax return? Or is that handled by the pensiuon provider?

hii..
The lump sum should be declared on your 2024-25 self-assessment tax return, even though the pension provider may have already processed it. You'll typically need to include it under the "Pension Lump Sums" section. If you're unsure, you can check with your pension provider or a tax advisor to ensure everything is correctly reported.
thank you

[Lambs]

W,

To my understanding, the Self Assessment tax return section for "Pension Lump Sums" (by which I think you mean Qus. 11 & 12 on page 3 of the main return) are only for TAXABLE Lump Sums; a tax-free lump sum should NOT be disclosed.

The Additional Information pages also refer to lump sums but, again, to my understanding focus on lump sums derived from the cessation of employment, etc.

I think the OP should be very careful about including any tax-free pension lump sum amounts in their tax return, lest HMRC treat them as taxable, when they are not.

Regards all,

Lambs