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Head spinning with numbers please help!

5 replies

damppatchnot · 02/08/2024 14:51

I cashed in a small pension in 2022. It was 67,189 and I received 46,362 and was taxed 13,249.

On the HMRC app my pension income is shown as 50.531 but I only received 46,362

hmrc say they don’t owe me anything and to get in touch with pension company as I’m over 4K short

is it the pension or HMRC that owe (I’m assuming the payment I got was taxed)

as I said head is spinning

OP posts:
damppatchnot · 02/08/2024 15:22

Bump 🙏

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damppatchnot · 02/08/2024 19:11

Anyone ?

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RagzRebooted · 02/08/2024 19:13

The tax amount looks correct for the £67k total so I'd say the pension company didn't pay you enough, but I don't know where the £50k amount showing on HMRC would have come from. Were there fees?

Witchlite · 02/08/2024 19:33

Did you get 25% tax free, leaving 50491 to be taxed. Not sure if you have any other income in that tax year, because your tax rate and allowances would depend on that.

but dependant on allowances, tax code and other income it could be right

damppatchnot · 02/08/2024 20:38

Yes 25% was tax free that leaves 50k but it I got 46k but on the HMRC app it says 50k
ive contacted the pension provider for clarification

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