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Childs Pension
destructer
Posts: 15 Forumite
Just had my 14 year old sons NHS pension statement that he receives from my late wife and I notice that they deduct income tax at BR rate?
Is this correct? I didn't think he would pay income tax being a minor?
Is this correct? I didn't think he would pay income tax being a minor?
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Comments
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Being a minor doesn't mean no tax is payable.
But he will be entitled to a Personal Allowance so if the pension is small enough then no tax should be payable for that reason.0 -
£600 per annum0
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Has this just come into force? Pension company just does what HMRC tell them to do but HMRC can default to a code like BR initially if they don't immediately know what the right code is but it should self correct and overpayment be returned.0
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About 10 months into so maybe it will take a while to sort out0
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No I think you need to get on to HMRC, while not a unique situation it’s fairly unusual, for example your son won’t be getting a P60 from a job closing the tax year. Does he have his NI number yet or Unique Taxpayer Reference?destructer said:About 10 months into so maybe it will take a while to sort out0
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