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Posted Wed, 25 May 2022 17:32:52 GMT by Paul_176
Hi, My army pension is taxed at BR. 100% of it is taxed. My salary has a code of 550L. Does this mean I only get £5500 tax free allowance? Is that right? Thank you
Posted Thu, 26 May 2022 11:39:06 GMT by HMRC Admin 2

Without being able to see your codes, 550L does mean £5500 tax free allowance.

BR would tax 100% of the income at 20% on the pension.

Thank you.

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