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Where to declare 25% tax free lump sum?


Lizzie Mac

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I

am under retirement age but over 55 so was able to take 25% of my private UK pension

as a tax free lump sum last year.  I’m

totally confused by the instructions on the online tax declaration – the instructions seem to relate to a payment of a whole pension pot rather than my situation.

Can anyone clarify how this should be reported please?

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Hi,
Depending on the size of the lump sum you can either declare it with your normal pension     ( form 2047 page 1 part 1 section 11 "pensions,retraites, rentes"..privé. 1AM - and as you are liable to CSG ( unless you hold form S1) -page 4 "pensions, retraites,rentes" .. 8 TV or 8TX *. , then to form 2042 page 3 part 1 "PENSIONS ,RETRAITES, RENTES " Box 1AM,or, if  you think it is large enough to put you into a tax bracket above 7.5% ............
..............you can declare as pension taken as capital..2047 ...page 1 ."PENSIONS DE RETRAITE VERSEES EN CAPITAL"  1AT.....and page 4 section 9 ..8SA or 8SB (see below for guidance on which to choose)..then 2042 page 3 section 1 box 1AT.

*see here -page 4 for income limits for each amount (if in doubt enter at 8TX or 8SB)........

https://www.impots.gouv.fr/portail/files/formulaires/2041-gg/2018/2041-gg_2287.pdf

I'm afraid that's as simple as I can make it -- if you still have problems I can only suggest going to the tax office for advice.

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