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state pension tax
Kjchilts
Posts: 4 Newbie
Sorry if this is not the right place for this I am new,
my wife is retiring in August 2015,she has an estimated £28000 lump sum which she wishes to take,
When she retires her only income will be the state pension of £155.00 per week.
would she be able to pay the tax due on this sum in the next year. and therefore would she not have to pay any tax as her earning /income will only be £8060 a year well under her allowance.
if not I assume she will have to pay 20%.
hope I have not complicated this to much
kind regards
kjchilts:)
my wife is retiring in August 2015,she has an estimated £28000 lump sum which she wishes to take,
When she retires her only income will be the state pension of £155.00 per week.
would she be able to pay the tax due on this sum in the next year. and therefore would she not have to pay any tax as her earning /income will only be £8060 a year well under her allowance.
if not I assume she will have to pay 20%.
hope I have not complicated this to much
kind regards
kjchilts:)
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