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Posted Fri, 14 Jun 2024 12:46:39 GMT by Steve
I stopped working in June 2023 and am now a full time carer for my wife. I am in receipt of an HM Forces pension, paid monthly, I also receive Carer’s Allowance. I have two other pension pots, one from many years ago and one from my most recent employment. One pot is in the order of £17,150 and the other in the order of £19,500 I would like to take each of the pots as a lump sum (25% tax free and the balance taxable), one during this financial year and one either next financial year or at a later date. Are you able to advise if it is permissible to to this please? Further to this, would I be able to take out the whole of one pot and part of the other this financial year.
Posted Tue, 18 Jun 2024 11:20:36 GMT by HMRC Admin 5 Response
Hi

We cannot provide financial advice in this forum.  For that you will need to seek professional advice.  
It is up to you whether you take the lump sums in different tax years or the same tax year.  
You will receive 25% tax free either way.

Thank you.
Posted Sun, 11 Aug 2024 20:14:07 GMT by Jacko165
Hi I am working and earn 45000 a year .I want to take a lump some of 40000 out my pension ...would I need to fill a tax form in or will hmrc adjust my tax code I am paye
Posted Wed, 21 Aug 2024 11:10:29 GMT by HMRC Admin 10 Response
Hi
If you receive an 'unathorised payment' from your pension provider, then a tax return will be required.  (Pension schemes and unauthorised payments).
Posted Tue, 27 Aug 2024 12:24:16 GMT by Kelly Hayward
Hello, just to confirm the reply to Steve - it is possible to take 25% of a pension pot one year tax free and then 25% of a different pension pot tax free another year?
Posted Wed, 28 Aug 2024 05:13:04 GMT by Graemepick123 Pickles
Itook some money from my retirement account and paid tax on it. Then my employers tax code changed to 357L I am now paying 38 pounds a week extra tax. Can i get this back?
Posted Thu, 05 Sep 2024 15:15:28 GMT by HMRC Admin 20 Response
Hi,
Unfortunately, it is not possible to check individual tax records through this forum, if you have a question which relates to your personal tax situation or tax code please contact our helpline.
Income Tax: general enquiries
Thank you.

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