OAP Lump sum

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Char
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OAP Lump sum

#1 Post by Char »

I'm hoping some one can help me with this - our tax returns are normally soooo simple.

My OH started drawing his UK OAP last year and when he applied was told he could have received it the previous year and therefore they gave him a years worth of pension in one go I don't know where to put this on the form.

I think I have to put last years oap on 2042 1AM but not sure where to put the lump sum - we have no other income apart from a very small French pension.

Many thanks

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Blaze
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OAP Lump sum

#2 Post by Blaze »

Char - OH has just checked -it should go on 2042 1AM as you said.

exile
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OAP Lump sum

#3 Post by exile »

Have a look at my post on this thread

viewtopic.php?f=27&t=3630

It may well be worthwhile paying flat rate on the whole amount rather than higher rates if you simply declare it as normal income in 1AM. You do need to do the sums though.

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Char
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OAP Lump sum

#4 Post by Char »

Thanks Blaze 8-)

Thanks for that exile, I've had a look at your post on the linked thread, but as the amount is below his tax free allowance I don't think I need to do anything else, I'll keep it in mind for the future though. :D

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OAP Lump sum

#5 Post by exile »

But if you are married or PACed, it is your joint incomes that count.

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Char
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OAP Lump sum

#6 Post by Char »

We're married - I don't have any income of my own now a days apart from a little interest on savings in an LEP which isn't taxable anyway.

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