Skip to main content

This is a new service – your feedback will help us to improve it.

  • Tax due on pension lump sum

    I wish to take a small lump sum, about 2k from my pension pot and pension provider has advised emergency tax of 40% will be taken if HMRC does not provide a tax code which in their words happens quite a lot. This seems appalling when my income is no where near the higher rate tax threshold. I was expecting to pay basic rate and wondering what action i can take to mitigate this