MC Twomey
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RE: Income tax on company pensions when you have 2 separate pensions from different employers
I have a related problem. I have just started receiving my employment pension, which is now my main source of income. I have been using a smaller, flexi-access drawdown pension but intend to stop drawing on this later this year. HMRC has allocated a much larger tax code to the smaller pension (meaning I won't pay any tax on this) and a smaller tax code to my main income. It would make much more sense for this to be reversed, so that my tax allowance is allocated to my main pension, which I will draw for the rest of my life. Can the way the tax codes/allowances are allocated to the two pensions be changed?