State Pension: Where can I see the amount of tax deducted?

DawlishDilbert

I'm about to get my first payment. 

I'd like to see the amount of tax deducted in the same way as on payslips where they show gross, deductions (incl PAYE) and the net.

I know I could simply assume the difference between the known monthly gross amount and what actually lands in my bank account, but isn't it shown anywhere? Seems just good practice to have a document somewhere on .GOV.UK......

Thanks

FIREDreamer

DawlishDilbert said:

I'm about to get my first payment. 

I'd like to see the amount of tax deducted in the same way as on payslips where they show gross, deductions (incl PAYE) and the net.

I know I could simply assume the difference between the known monthly gross amount and what actually lands in my bank account, but isn't it shown anywhere? Seems just good practice to have a document somewhere on .GOV.UK......

Thanks

State pension is paid gross. No tax is deducted.

la531983

There wont be any tax deducted so you have misundertood. It is collected after the event if you owe it (and its your only income)

How tax is collected on the state pension | Low Incomes Tax Reform Group

There is a page on the Gov.uk website btw. I dont know if you have other income, this covers both scenarios

Tax when you get a pension: How your tax is paid - GOV.UK

MikeyPGT

What you get is the gross amount due - there is no facility for it to be taxed at source.  If you are getting income from other sources that takes you over your personal allowance then you will be taxed on that.

Sarahspangles

DawlishDilbert said:

I'm about to get my first payment. 

I'd like to see the amount of tax deducted in the same way as on payslips where they show gross, deductions (incl PAYE) and the net.

I know I could simply assume the difference between the known monthly gross amount and what actually lands in my bank account, but isn't it shown anywhere? Seems just good practice to have a document somewhere on .GOV.UK......

Thanks

If you haven’t already, it’s a good time to set up access to your personal tax account, or the app equivalent. It tells you what HMRC know or assume. You’ll be able to see if it’s likely you’ll owe tax after the end of the tax year, due to things like high amounts of savings interest.

sheramber

If you are in receipt of an occupational pension your code number for that source will include a deduction of personal allowances to cover the amount of state pension received. 

Any tax due as a result will be deducted from that pension. 

Ayr_Rage

The good news is that the state pension is paid gross.

The bad news is that HMRC get their pound of flesh eventually if you are liable, either through an adjustment to your tax code on other income or an annual bill.

Therefore if your annual income is above the personal allowance, be prepared.

DawlishDilbert

Brilliant responses. Thank you all.

I have other pensions (both taxed), so I now understand that one or other of those will have the tax code adjusted accordingly in due course......

Thanks all!

LHW99

I know I could simply assume the difference between the known monthly gross amount and what actually lands in my bank account, but isn't it shown anywhere? Seems just good practice to have a document somewhere on .GOV.UK......

And just to add, state pension is paid 4-weekly, not monthly (unless you choose weekly). So you get 13 payments in a year.