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Posted Thu, 25 Jul 2024 08:52:23 GMT by Tim Blackman
I am currently working full time and am an additional, 45%, tax payer (self-assessment). I am also receiving a workplace pension which, because it is in addition to my salary, is all taxed at 45%. I retire in May 2025 when my only income will be my pension. This is considerably lower than my current income. How do I ensure that from May my pension is not all taxed at 45%? Thank you.
Posted Wed, 31 Jul 2024 07:38:56 GMT by HMRC Admin 20 Response
Hi,
When you retire, contact us by webchat or phone via Income Tax: general enquiries- we can project your income for the rest of the tax year, and amend your tax
codes to ensure you pay the right amount of tax.
Thank you.

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