How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask bigduckontax Your Own Question
bigduckontax
bigduckontax, Accountant
Category: Tax
Satisfied Customers: 3816
Experience:  FCCA FCMA CGMA ACIS
75394688
Type Your Tax Question Here...
bigduckontax is online now

I received, last year, a P45 from Standard Life

Customer Question

I received, last year, a P45 from Standard Life for selling a small sub £10,000 pension pot.
I paid 20% tax on 75% of the pension pot.
I have just completed my self assessment tax return, but did not know where to add reference to this transaction.
Can you advise me?
Submitted: 1 year ago.
Category: Tax
Expert:  bigduckontax replied 1 year ago.
Hello, I am Keith, one of the experts on Just Answer, and pleased to be able to help you with your question. I would put the income in box 16 and the tax deducted in box 18 in the Income part of the SA200. I would also tend to add a note of explanation in Box 19 of the 'Finishing off ..' section at the end. I do hope my reply has been of assistance.
bigduckontax and other Tax Specialists are ready to help you
Customer: replied 1 year ago.

Thank you….I need a little time to check exactly where on the forms and will then confirm my understanding, once I have acquainted myself with the boxes you mentioned……...

I have now checked the forms and fully understand what you had indicated.

Many thanks…very helpful

Expert:  bigduckontax replied 1 year ago.
Delighted to have been of assistance.
Thank you for your excellent support.

Related Tax Questions