Pension Drawdown 2019 Personal Allowance Question

Cat_House

Hi,

I am currently in pension drawdown and my figure for this tax year is £1316.66 a month - Personal tax allowance plus 25% tax free means I don’t pay any tax.

Can someone please give me the figure from April 2019 with the new personal tax allowance of £12,500 plus 25% tax free.

I have tried to work it out myself, but am struggling with number blindness...

Thanks :T

Bravepants

It's the allowance divided by 0.75...so £12500/0.75 = £16666.67, or £1388.89 per month.

marlot

16,666.66 a year allows for 4166.66 to be tax free, and 12,500 (not) taxed.


Or 1388.88 a month.

Cat_House

Thanks People, I will save that info for future reference...