Candy wrote:
Ok, now I hopefully have your attention, I need advice or recommendation in what direction to take.
I have recently been given early retirement on ill health grounds,
but they generously backdated it to 2004 when I left their employ to come here. I am now a bit concerned as to what I should do now with regard to sorting all this out and whether I declare the whole lot, since I opted out of UK tax shortly after I moved here and actually received a rebate - I am unsure at this stage what has been paid in UK since no letter/explanation has been received yet.
Any guidance please for this blonde who hates finance (apart from spending it)
in simple plain English please.
Depends what you are talking about.
Is it a lump sum from your pension?
If you have opted to take up to 25% from a private pension at retirement age, this is tax free. Your monthly pension is then based on the remainder.
Alternativly this MIGHT be your entire 'monthly' pension backdated till 2004!! There isn't enough information and I agree with Molly, wait a month and see if any paperwork come through. If not contact your pension company and ask for a breakdown.