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Tax and Incapacity Benefit?
Garnet_Gem
Posts: 681 Forumite
Do you pay tax on incapacity benefit if you receive a private pension that tax is deducted from?
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Comments
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No you would not pay tax on the Incapacity Benefit because any tax due would have been deducted from the pension.0
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But your IB would be counted as part of your income and you would pay more tax on your pension than if you did not receive the IB.(AKA HRH_MUngo)
Member #10 of £2 savers club
Imagine someone holding forth on biology whose only knowledge of the subject is the Book of British Birds, and you have a rough idea of what it feels like to read Richard Dawkins on theology: Terry Eagleton0 -
seven-day-weekend wrote: »But your IB would be counted as part of your income and you would pay more tax on your pension than if you did not receive the IB.
Indeed it would be counted and would pretty well use up all an under 65 year olds tax free allowance. Therefore it could be that all the pension was taxed.0
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