We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

The MSE Forum Team would like to wish you all a very Happy New Year. However, we know this time of year can be difficult for some. If you're struggling during the festive period, here's a list of organisations that might be able to help

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Has MSE helped you to save or reclaim money this year? Share your 2025 MoneySaving success stories!

Cons Of Taking Pension Drawdown To Leverage Annual Tax Allowance

TojoRalph · 2022-03-13 22:04:19

Having retired in 2020 (at least I think I have), I am just looking for some feedback on my plan to drawdown £16,760 from a personal DC pension to leverage the £12,570 annual allowance (Scotland) for 2021-2022 that I will not otherwise have used as I have zero taxable income for that tax year. My plan for the next 10…

Comments

Albermarle Posts: 29,777 Forumite

15 March 2022 at 10:15AM

I assumed that after 40+ years of PAYE transparency, the tax folk would request I do SA.
I think HMRC have an objective to reduce the number of people doing SA, and for people to use their on line personal tax account to inform them of changes etc .

2