PandaPoppet .

I currently earn £44547 pa, but this is due to increase to £49036 in September. I have a pension pot of approx £115000 and want to drawdown some of it - either £20000 or £40000 (I haven't decided yet!). The drawdown would be to fund a repayment of a loan, and potentially also to fund some home improvements (hence the two amounts!). My question is - how will either of these drawdown amounts affect my tax? Will only the drawdown be taxed at the higher amount (it will take me into the 40% tax ), or will the wage from my current employment also be taxed at the higher amount? Thank you!