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State and Private pensions - tax adustment question please
xrg4
Posts: 11 Forumite
When the State Pension is received and added to an existing private pension, tax will become payable on the new total where currently zero tax is due.
Will HMRC tell the private provider of the additional income so that they apply the appropriate tax? Is that automatic or does it require personal intervention?
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Comments
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No, they shouldn't disclose anything about your income to a third party (without your permission).xrg4 said:When the State Pension is received and added to an existing private pension, tax will become payable on the new total where currently zero tax is due.Will HMRC tell the private provider of the additional income so that they apply the appropriate tax? Is that automatic or does it require personal intervention?
But they should send them a new tax code automatically a week or so after your State Pension starts.
For example it might be 1257L now and change to say 200L. But HMRC don't tell them why it has changed.0 -
My state pension started on 1st Feb, my new tax code was issued in my gov.uk account on the 3rd, first working day possible.
I was already paying tax on my private pension and they have the new code and applied it to my March pension payment.0 -
Thankyou. The fact that they send a revised tax code automatically is what I was hoping would be the case0
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