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Tax free retirement income and tax return
NDav
Posts: 10 Forumite
in Cutting tax
I have personal pension income, some of which is taxable and I know I need to declare this on my tax return. I also have a tax free element (25%). I can't see anywhere that this needs to be declared on my tax return. Is that correct?
0
Comments
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Yes, if you declare a TFLS/PCLS on your Self Assessment return you are turning it into taxable income.
Which Rishi Sunak might appreciate
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The clue is hidden in the depths of the phrase ‘tax free element’.0
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