We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
The MSE Forum Team would like to wish you all a Merry Christmas. However, we know this time of year can be difficult for some. If you're struggling during the festive period, here's a list of organisations that might be able to help
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Has MSE helped you to save or reclaim money this year? Share your 2025 MoneySaving success stories!
Tax on small LGPS pension
Comments
-
they have taxed the payment taken £80 off of 404.88 as I expected. They have my annual income for this tax year as £1,677.DRS1 said:You could try logging on to your personal tax account. You may find a PAYE box has appeared on there and it should show you the payment and any tax deducted from it. It may also show an estimate for the total pension this tax year and any tax on it.
so I guess I am back to the original question of the post will this resolve itself or do I need to fill in some formsThe greatest prediction of your future is your daily actions.0 -
To deduct that tax it looks like they have used the "new employee no declaration" code of 0TW1 which is a bit of a bummer. With an X suffix code in place you will not get that tax back through PAYE. With no other income streams this year you should tell HMRC to allocate the full allowance on a cumulative basis which will recover that tax on the next payment.1
-
Which in itself is very unusual as the op is taking his LGPS pension, not starting a new employment.molerat said:To deduct that tax it looks like they have used the "new employee no declaration" code of 0TW1 which is a bit of a bummer. With an X suffix code in place you will not get that tax back through PAYE. With no other income streams this year you should tell HMRC to allocate the full allowance on a cumulative basis which will recover that tax on the next payment.
0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.9K Banking & Borrowing
- 253.9K Reduce Debt & Boost Income
- 454.7K Spending & Discounts
- 246K Work, Benefits & Business
- 602.1K Mortgages, Homes & Bills
- 177.8K Life & Family
- 259.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards
