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Tina Wylde

Tina Wylde

Joined: 10/16/2023

  • RE: Tax on Pension

    Thu, 26 Oct 2023 08:11:19 GMT – Tax on Pension
    Hi I've received a new Tax Code today of K264X, as I have savings interest, my annual tax-free amount is −£2,651. Please could you advise how much more than £110 will be deducted each month? I only have a monthly pension of £340, is there a limit to how much tax can be deducted or could it all be taken? Kind regards

  • Tax on Pension

    Mon, 16 Oct 2023 16:14:15 GMT – Tax on Pension
    Hi I've just reached retirement age and have a small monthly pension of £340, the State Pension of £10,600 and Savings Interest of £9600 per annun. Prior to retiring I had earnings of £6500 and paid tax of £175 through PAYE. I understand that tax will be deducted from my pension, which I calculate to be about £110 a month, will this amount be taken from my pension each month?