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Why so much tax on a very small pension?
Comments
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Marcon said:mrsyardbroom said:I tried to ring the helpline for this question but after ten minutes of listening to recorded messages telling me I could go through everything online or hold on for an advisor, they asked me a lot of security questions and then said they couldn't take my call, good bye.I have a small works pension coming in which is only £901 a year. On the P60 it gives the total for the year as £901.85 and the total tax for the year as £38.40.On the advice of payment for the month and for every month for the rest of the tax year it says the gross amount I will get is £76.65 and tax will be £11.80.This is what I don't understand. I get paid per calendar month and 12 x £11.80 = £141.60. That's a lot more than £38.40.
Can you see why I'm puzzled?
I hope this isn't going to be repeated on my other works pension or I will be seriously out of pocket.
Don't mess with pensioners. :cool:0 -
You will have received a statement of increase in benefits showing your weekly state pension amount for the tax year 25/26.
What is shown?
What was the weekly amount for 24/25?
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