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Tax credit and private pension
oaktree_7
Posts: 3 Newbie
Hi , as I approach my 55th birthday, my private pension I have with the prudential is available, I’m considering taking 25% of this approx 5000.
I’m self employed and I’m on tax credits to help with my wage.
I’m self employed and I’m on tax credits to help with my wage.
I’d like to get some advice, if I take the 25% of the Prudential Pension, do I inform the HMRC of this and if so, will this alter my tax credit? I currently have savings of £3000 , I don’t want to fall foul of the laws, but I’d like to take the 25% to help with some expenses I have.
many thanks
many thanks
0
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