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    • belgiumproperty
    • By belgiumproperty 11th Jul 17, 12:13 PM
    • 1Posts
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    belgiumproperty
    emergency tax code - cashing in pension
    • #1
    • 11th Jul 17, 12:13 PM
    emergency tax code - cashing in pension 11th Jul 17 at 12:13 PM
    hi a relative age 79 is cashing approx £17,000 in via 1 year Canada Life policy - and (generic) application asks for P45 for current year -otherwise emergency tax code applied & correct one requested from HMRC by Canada Life

    BUT my question is what form would a retiree have which can be sent with Application form to Canada Life .....do retirees have P45 for current tax year.

    Thanks

    Any advice appreciated - btw only small annuity /and state pension being paid to retiree

    and present tax code on small annuity is for tax year till April 2017 Final Tax Code 627L
Page 1
    • greenglide
    • By greenglide 11th Jul 17, 1:21 PM
    • 2,724 Posts
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    greenglide
    • #2
    • 11th Jul 17, 1:21 PM
    • #2
    • 11th Jul 17, 1:21 PM
    You would only have a P45 if you had left employment in this tax year.

    In practice to would only have one if you had left work and claimed your pension, you wouldn't tend to be in this position.
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