I have received a payment for a retirement claim from my retirement company. I want to confirm if the tax I have paid is correct. The payout is reflected under code 3915 and 3698 on my IRP5. The tax is reflected under code 4115 as PAYE. When I submit my annual tax return- will I be expected to pay in an amount as additional tax?
The current calculated tax amount (which was withheld from payment) was very low. So my question is - is that low tax correct- and would I be expected to pay in on my tax return. I am 62 and have retired early.