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  • FIRST POST
    • thebullsback
    • By thebullsback 16th Mar 17, 8:03 PM
    • 349Posts
    • 31Thanks
    thebullsback
    tax question
    • #1
    • 16th Mar 17, 8:03 PM
    tax question 16th Mar 17 at 8:03 PM
    If I earn £19500 before tax pa and have no other income and i then have acsess to a £30000 pension pot could i withdraw 25% of the pot per year yax free??
Page 1
    • ischofie1
    • By ischofie1 16th Mar 17, 8:42 PM
    • 175 Posts
    • 137 Thanks
    ischofie1
    • #2
    • 16th Mar 17, 8:42 PM
    • #2
    • 16th Mar 17, 8:42 PM
    No you only have 1 shot of the 25%.
    The rest would be taxed at your marginal rate.
    • dunstonh
    • By dunstonh 16th Mar 17, 8:46 PM
    • 89,539 Posts
    • 54,989 Thanks
    dunstonh
    • #3
    • 16th Mar 17, 8:46 PM
    • #3
    • 16th Mar 17, 8:46 PM
    could i withdraw 25% of the pot per year yax free??
    yes and no.

    You can crystallise the whole pot in year one and only get one lot of pension commencement lump sum. Or you can crystallise a bit every year and get some pension commencement lump sum every year.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
    • thebullsback
    • By thebullsback 16th Mar 17, 9:00 PM
    • 349 Posts
    • 31 Thanks
    thebullsback
    • #4
    • 16th Mar 17, 9:00 PM
    • #4
    • 16th Mar 17, 9:00 PM
    i thank you both for your help.
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