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Posted Thu, 23 Nov 2023 20:52:47 GMT by
I started taking my company pension benefits from 01/11/2023. I am continuing to work and pay tax through PAYE, this uses all of my personal tax allowance. I pay tax at 40% on some of my salary, and 40% on all of a small pension I have been receiving since January 2023. I will also pay 40% on my company pension payments. HMRC has done a calculation of my estimated tax for 2023/24 and has said I’ve underpaid tax. To recover the underpayment HMRC has my tax code. My combined income (salary + pension + pension) will not exceed the higher rate tax threshold. How can I have underpaid tax?
Posted Wed, 29 Nov 2023 08:19:31 GMT by HMRC Admin 25
Hi NGray1979,
We would need to access your record to check on the underpayment.
You can contact HMRC here:
Income Tax: general enquiries
Thank you. 

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