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STATE PENSION AND INCOME TAX
Trish58
Posts: 1 Newbie
in Cutting tax
I am fortunate enough to have a private pension and still work part time. i am now in receipt of my state pension having reached the ripe old age of 66. am i right in thinking that now that my tax code has changed from 1263L to 203L that whilst i will pay more tax on my employment my state pension is paid in full with no deductions?
0
Comments
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Yes.
You will always get your State Pension paid gross (normally weekly or 4 weekly, never monthly).
In the first year you get State Pension your tax code can look odd as HMRC often include the full annual amount but the new tax code is used on a non cumulative basis so just each pay day going forward.2
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