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Spouses pension advice needed
spa9769
Posts: 11 Forumite
My dad recently passed away aged 59. He had a couple of private pension funds which are due to pay lump sums to my mum (one £9k, other £6K). One of the pension companys sent a form to notify the HMRC of this. Does this mean she is going to be taxed on the lump sums (is she going to lose 22% of the lump sums)? if so is there any legal way to avoid this?
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Comments
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Sorry to hear of your loss.
The tax position depends on whether or not your father was drawing any pension income.If he was not,then she should get the money in full.Trying to keep it simple...
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Thanks for that, he was not drawing any pension income at the time of his death so sounds like it could be good news.0
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