LTA , sorry this will look stupid.

xylophone

my late fathers pen paid her approx. £1200 no lump,

late father pen is £1100

Is the widow's pension £1100 (£1200?) per annum or per month?

Is it not index linked in any way?

her AVC she took at same time paid approx. £15000 lump and about £4200 yearly pen

Her avc as gone down a little £3950

Is this an annuity from the AVC?

Her total TPS pension will now be around £45,000 a year?

How much does she receive per annum in State Pension?

Is she receiving savings/dividend income outside an ISA?

Has she received any computations from HMRC?

pauline123456

fathers pen goes up and down and its per year not index linked.
AVC is what she got through school additional to her pen , when she cashed it , she didn't shop around just stuck with them ,all we know so far , price is low this year from last ,getting paper work on this. state pen around £10000. ISA and around £1500 interest on other accounts , she pays into premium bonds also .Not sure with checking the other thread but i think it was you that replied about the K code (income tax)she is on for the last seven years with work (obviously she retires this month so will change ) think you said that she could and invested more into her pension to bring her level down to get rid of the K code , as she as stopped work now could she see an accountant and re claim the previous years she was on the K code and pay extra into a pension ?
thanks for the advice and replying xylophone

pauline123456

fathers pen goes up and down and its per year not index linked.
AVC is what she got through school additional to her pen , when she cashed it , she didn't shop around just stuck with them ,all we know so far , price is low this year from last ,getting paper work on this. state pen around £10000. ISA and around £1500 interest on other accounts , she pays into premium bonds also .Not sure with checking the other thread but i think it was you that replied about the K code (income tax)she is on for the last seven years with work (obviously she retires this month so will change ) think you said that she could and invested more into her pension to bring her level down to get rid of the K code , as she as stopped work now could she see an accountant and re claim the previous years she was on the K code and pay extra into a pension ?
thanks for the advice and replying xylophone

pauline123456

Whats computation ?

pauline123456

if its about expenses , she as never claimed as far as we know for anything?

xylophone

Her tax code may well change now that she is no longer drawing a salary but as to whether any refund is due (or indeed there is tax owing) from previous years will be a matter for your mother's accountant to sort out.

Computation means calculation - has she received any communications from HMRC concerning how her tax is calculated?

You indicate that your mother does have earned income in this tax year? It may be possible for her to make tax relieved pension contributions to take account of this - the accountant should be able to check this for her.

Once she has no earned income, her contributions would be limited to a net £2880 - tax relief of £720 would be claimed by the provider.

After she has reached age 75 no tax relief would be given on pension contributions.

It really does seem time for your mother to engage a tax accountant to check her situation.

pauline123456

its took ages to convince her , madness.
spoke to two today and booking one next week after speaking to mum over weekend.
thanks for your help appreciate it

pauline123456

its took ages to convince her , madness.
spoke to two today and booking one next week after speaking to mum over weekend.
thanks for your help appreciate it

xylophone

Re the K code, it does not only arise from having company benefits.

See link in post 9 here.

https://forums.moneysavingexpert.com/discussion/comment/76266633#Comment_76266633

pauline123456

we are booking for accountant next week , cant keep soon enough.K code i think with what you have said and i have read up on is for evry £2 you earn over £100k they take £1 of your yearly allowance off you
I have just talked to her about the tax form she submitted last year, and think i have found an error if its true in what she as said .
As she is obviously a member of the teachers pension ,she sacrifices 11.7% of her sal towards her pension each year , she as said that she enters the full salary on her tax form not the figure with the 11.7% off and she as always done this . i am right in thinking she should have submitted the salary figure with the 11.7% off ?