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Pension and Income tax

3card · 2022-07-07 19:59:54

Not sure if this needs to be on the pensions forum or an income tax forum 2 years ago i was made redundant and with a small portfolio of BTL properties I decided to start taking a small pension from my SIPP. I decided to take £1000 per month to keep me below my tax threshold (The income from the properties is in my wife's…

Comments

molerat Posts: 35,930 Forumite

8 July 2022 at 12:53PM

If you have a code of 1383 then taking 3 x £1600 withdrawals will have no tax liability. Depending on exactly which month you take them in you may have tax deducted but it will be refunded over the rest of the year.

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