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Drawdown whilst still working and tax implications
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I asked a similar question not long ago. It seems likely what will happen is that as you are already a taxpayer with the personal allowance applied and used for your salary, then additional income from a pension will be taxed at 20% on all of it . Normally the personal allowance would not be split across different sources of income , if for no other reason than it makes he situation more complicated and you still pay exactly the same amount of tax anyway.I am interested in the tax implications as I believe HMRC will give me an emergency tax code.
So who gets this new tax code ,the pension provider or my employer?0
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