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When to draw pension
Comments
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Columbus27 said:Why £60k significant?Because that's the Annual Allowance0
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LHW99 said:Columbus27 said:I’m in higher tax bracket already.to get your personal allowance raised so you pay less higher rate tax.Pension contributions do not have any effect on your personal allowance. They extend your basic rate band (£37,700) by the gross contribution. From my Self Assessment:
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Unless you're fortunate enough to impacted by the tapered Personal Allowance.ColdIron said:LHW99 said:Columbus27 said:I’m in higher tax bracket already.to get your personal allowance raised so you pay less higher rate tax.Pension contributions do not have any effect on your personal allowance. They extend your basic rate band (£37,700) by the gross contribution. From my Self Assessment:
But for the vast majority of people that isn't going to be relevant.0 -
ColdIron said:LHW99 said:Columbus27 said:I’m in higher tax bracket already.to get your personal allowance raised so you pay less higher rate tax.Pension contributions do not have any effect on your personal allowance. They extend your basic rate band (£37,700) by the gross contribution. From my Self Assessment:
Yes, wrong wording - apologies
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Thanks everyone0
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