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Fathers estate re: annuity payments.
calicocat
Posts: 5,698 Forumite
Hi folks,
As part of my fathers estate I am to receive annuity payments which I assume is from a pension. This will last for another year and a half I think. They have asked for my NI number, so will this get taxed at source or is there anything I have to do? (I work full time so pay tax)
Don't want to end up with some huge bill a year down the line......oh and the payments I think will be around 230 pounds (can't get phone to do English pound sign) a month if that makes any difference.
Thanks
As part of my fathers estate I am to receive annuity payments which I assume is from a pension. This will last for another year and a half I think. They have asked for my NI number, so will this get taxed at source or is there anything I have to do? (I work full time so pay tax)
Don't want to end up with some huge bill a year down the line......oh and the payments I think will be around 230 pounds (can't get phone to do English pound sign) a month if that makes any difference.
Thanks
Yep...still at it, working out how to retire early.:D....... Going to have to rethink that scenario as have been screwed over by the company. A work in progress.
0
Comments
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Chances are it will come with some sort of payslip which should identify the tax code used.
If in doubt when the payments come set aside 20%/40% as a propriate untill you find out from the payment provider.
Have you not had any paperwork saying what the payment will be?0 -
Thanks, no paperwork as yet as it won't all be sorted for a month yet I think, I just have a rough idea what it will be as know yearly figure but wasn't sure how that pans out monthly (ie: whether tax taken at source). But if I get a "pay slip" with it i'll be able to work out what to do with it I think.
Thanks.Yep...still at it, working out how to retire early.:D....... Going to have to rethink that scenario as have been screwed over by the company. A work in progress.0
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