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When will HMRC adjust my code to reflect my pension contribution?
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That appears to be inconsistent with your other recent thread in which you said you were taking a retirement lump sum (redundancy) in April and then not working again:MetaPhysical said:
No. I won't be. I am starting to work part time to avoid the 60% tax trap. I am not working for the government's benefit.BoGoF said:Yes "assuming" you repeat it - are you repeating it though?
https://forums.moneysavingexpert.com/discussion/6512642/is-a-retirement-package-deemed-to-be-income-for-pension-purposes#latestMetaPhysical said:Let's say for example I got paid net £60K payoff end of April, that makes me a higher rate tax payer which I paid tax on. I will not earn any more money from employment ever again.
Plus the thread about your wife's side hustle and understanding the Trading Allowance.
Given your income level and queries about taxation, pension contributions and the like, I really think you would benefit from the services of a professional (paid for) Accountant. It is quite likely that a proper review will save you as much (or more) in tax than it costs; even if it does not you will have peace-of-mind which I consider is priceless.
The risk with separate threads in a public forum, with each thread only considering part of the picture, is that advice if given in good faith and in isolation but the aggregate is either incorrect or not optimised.
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