We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
How do I find out if I owe tax on my pension drawdown payment?

Chillyone
Posts: 2 Newbie
I'm retired and have been taking money from private pension.
The first 25% was not taxed but the next 2 withdrawals were.
I did get a tax code from HMRC eventually but how do I find out if I can claim tax back?
I'm worried I might owe them money.
The first 25% was not taxed but the next 2 withdrawals were.
I did get a tax code from HMRC eventually but how do I find out if I can claim tax back?
I'm worried I might owe them money.
0
Comments
-
Welcome to the forum - you've posted on the 'Benefits and Tax Credits' board but your query is actualyl better sutied on te 'Cutting Tax' or 'Pensions' board
You shouldn't need to do anything to claim tax back if you have paid too much - HMRC will refund you automatically after the end of the tax year (several months after).
The best way to ensure you pay the right amount is to check that they've used all the correct information when calculating your tax code - you can view how it is made up in your personal online tax account.
Personal tax account: sign in or set up - GOV.UK
P.S. you've posted on the 'Benefits and Tax Credits' board but your query is actually more appropriate to either the 'Cutting Tax' or 'Pensions' board and moderator might move it
0
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 350.3K Banking & Borrowing
- 252.9K Reduce Debt & Boost Income
- 453.2K Spending & Discounts
- 243.3K Work, Benefits & Business
- 597.8K Mortgages, Homes & Bills
- 176.6K Life & Family
- 256.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards