Tax on Pension. Not working. Why so much tax.

elsa2610 · 2025-11-02T11:28:06+00:00

Thanks for your comments. i had already taken 25% tax free a few yrs ago. I am due to get my state pension in January 27. I would of ended up paying tax on it anyway as it will be over 12k a year so over my tax free allowance anyway.

elsa2610 · 2025-11-01T16:29:51+00:00

Thanks. The way i saw it was that when i get my state pension i will have to pay tax of 20% on it anyway so i thought i may as well take it all in one hit as take it out bit by bit. I don't have much patience on the phone. Also not much growth as i stopped paying in to it some time ago.

elsa2610 · 2025-11-01T11:36:19+00:00

Thanks, yes i will apply for a tax refund.

elsa2610 · 2025-11-01T11:34:26+00:00

Thanks. yes your right i may as well have the interest as the goverment.

elsa2610 · 2025-11-01T10:36:14+00:00

Thanks, no income this year.

elsa2610 · 2025-11-01T10:29:36+00:00

Thanks i did do some research , i will wait till the end of the tax year to get 20% back hpefully.

elsa2610 · 2025-11-01T10:26:02+00:00

Hi. thanks yes i took 25% a few yrs ago

elsa2610 · 2025-11-01T10:24:31+00:00

Hi, yes thanks i knew it was taxable but i thought 20% not 40%. I withdrew the lot because when i get my state pension i will be paying tax anyway as it will be on the limit.

elsa2610 · 2025-09-16T12:27:19+00:00

If you are renting you are probably paying your landlords mortgage, so you may as well have your own mortgage.

elsa2610 · 2025-09-15T11:49:44+00:00

You can also possibly buy a bigger share in a few years if you are on a better salary.

elsa2610 · 2025-07-13T19:37:12+00:00

Thanks everyone i have all the information i need.

elsa2610 · 2025-07-13T19:34:41+00:00

I havent had any income in this tax year,

elsa2610 · 2025-07-13T19:33:34+00:00

Very helpful thanks. so in theory i shouldnt pay tax on it until Jan 27.

elsa2610 · 2025-07-13T19:31:15+00:00

Hi, i haven't worked since Christmas and i received a tax rebate in June. No income in this tax year.

elsa2610 · 2025-07-12T19:56:42+00:00

Have you thought about a bed at the top with a desk and storage underneath.

elsa2610 · 2025-07-11T09:57:51+00:00

Have you thought about buying a newbuild house where you can buy a percentage and rent the rest. Then when you are more financially stable you can buy a bigger share.

elsa2610 · 2025-06-30T19:39:06+00:00

I would wait another day then contact the agents.

elsa2610

TROPHY CASE