Tax Question

1958vintage

I am in full emloyment and earn between £15000 and £20000 a year and am taxed accordingly. I am going to take a previous employers pension which will be £4000 per annum.

Will I be taxed on the pension income? if so at what rate?

Thanks all.

BoGoF

Yes and 20%.

xylophone

Be sure that you advise your tax office so that your tax codes are correct.

jem16

1958vintage wrote: »

I am going to take a previous employers pension which will be £4000 per annum.

Assuming your username is your year of birth, are you able to take this pension considering you are under age 55?

1958vintage

thanks for answers, planning ahead.

chrismac1

Vote Lib Dem and wait long enough and the personal allowance will be higher than your income!