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Posted Mon, 03 Jun 2024 11:20:13 GMT by Carolg
Hi, I have a private pension of about 8000 and draw down approx 3000 from another pension pot, I’m taxed on the drawdown but get it repaid by the pension company each month, I’ve been taxed on my private pension and hopefully will get this back automatically. My tax code shows a deduction for interest on savings - my income from this is about 3000 which I understand is less than the max amount allowed on my total income. My concern is that once I get my state pension if this deduction is still on my tax code then I’ll be paying tax on it. Do I have to reclaim every year or can my tax code be amended as my total income is under the threshold of I think 17000 for people in my situation. Hope this makes sense.
Posted Thu, 06 Jun 2024 08:59:58 GMT by HMRC Admin 25
Hi Carolg,
You will need to contact HMRC to review your tax code:
Income Tax: general enquiries
Thank you
 

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