Tax on sip pension

shug119

I have about £3000 tax allowance left after state pension. I have a drawdown sip pension ( already got tax free sum ) 
If I take £3000 yearly income from my sip, can I claim the tax back ?

Albermarle

shug119 said:

I have about £3000 tax allowance left after state pension. I have a drawdown sip pension ( already got tax free sum ) 
If I take £3000 yearly income from my sip, can I claim the tax back ?

If the £3K is actually taxed , you can claim it back assuming no other taxable income .
In fact with a call to HMRC , you should be able to get them to assign the remaining personal allowance to your drawdown pension, which means you will not have to pay any tax on it in the first place.

Xbigman

If you have 3000 personal allowance left you can take out 4000 because 25% of what you take out is tax free. So 1000 TFLS and 3000 taxed.

Darren

molerat

Xbigman said:

If you have 3000 personal allowance left you can take out 4000 because 25% of what you take out is tax free. So 1000 TFLS and 3000 taxed.

Darren

OP states they have already taken the TFLS and put the remainder into drawdown.