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HMRC internal manual

PAYE Manual

Employment maintenance: create employment: form P46(LS)

From 6 April 2005 anyone who defers their state pension for 12 months or more can choose to receive either

  • An increased weekly amount of state pension
  • A one-off lump sum and the weekly state pension at the standard rate

The purpose of form P46(LS) is for the Department of Work and Pensions to tell HMRC that an individual has chosen to receive a lump sum payment.

As the lump sum is a one off payment, in most instances it is not appropriate for records to be held at this employer reference for any length of time, so if a new source of income commences the (This content has been withheld because of exemptions in the Freedom of Information Act 2000) reference should be amended to secondary and the new source to be shown as primary. See action guide tax40159.