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Posted 2 days ago by SJT85
I was 66 at the beginning of March. I will only receive my first state pension payment of £252.80 in this tax year with my first four weekly payment of £884.80 arriving a week into the new tax year. Is my taxable income from the state pension for this tax year calculated on what I actually receive (£252.80)? Or is it based on the number of days I qualify for the state pension and worked out pro rata to the end of the tax year?
Posted a day ago by HMRC Admin 21 Response
Hi,
As the state pension starts part way through the tax year we will be collecting the tax over a shorter period so it would be a different amount than the actual state pension that is collected in the code.
If the source of income the code is used by is monthly pay then each month we would deduct 1/12 of the amount in the code.
Thank you.

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