David Amos
Joined: 5/30/2023
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RE: Tax on state pension and work pensions in the first year of retirement
Hi My State pension started after the start of this tax year but I am being taxed as if getting it from April 6th. So I am overpaying tax on the approximate 7 weeks of pension I am not getting as the tax code given assume I have a full year. What is more concerning is that My tax estimate on my HMRC account is showing the correct lower amount of income. So why am I being overtaxed and having to wait until June/July the following year 2024 to get my £285 back? I could understand it more if the estimate and actual calculation agreed but they do not. So if someone has a birthday say in February are they going to be taxed on a full state pension year? That would be an enormous over billing? Please can anyone explain if I can get my £285 overpayment reversed during the current tax year?