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Tax clarification needed on drawdown please
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Is there anything else one needs to think about having income from DB and DC streams, mindful of tax situation.
You need to be aware of your tax free allowance and tax bands above that.
https://www.gov.uk/income-tax-rates/current-rates-and-allowances
You can check this each year. The you just check that you have not underpaid/overpaid tax.
See http://www.scottishwidows.co.uk/retirement-planning/pension-options/flexible-pension/0 -
First time on forum so don't know if going about this the right way! But need to know how you go about getting your 25%
Have you approached your pension provider?
See also https://www.pensionwise.gov.uk/ You can book an appointment for guidance.0
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