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Category: UK Tax
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Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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# I have a state pension and aged 74. also have two small pension

### Resolved Question:

I have a state pension and aged 74. also have two small pension of £421.68 which has tax deducted of £84..20 which is with friendslife . also one with Prudential of £116.68 which has a deduction of £3.20 deducted. My state pension is£699.32/month .
Am I pay the correct rate of for my age and rate of pension . I have no other income.

Mr T.S.NEWTON
GAMERIE. BANFF.
AB45-3EQ
Submitted: 3 years ago.
Category: UK Tax
Expert:  taxadvisor.uk replied 3 years ago.

Hello, if you have any questions or need further clarification after reading my answer please let me know.

Please advise if the private pension figures are per annum or per month.

Please leave it with me and I will revert shortly.

Many thanks.

Customer: replied 3 years ago.

The Friendslife amount of£421-68 is per year Deduction of £84.20 tax

Prudential amount £116.68 . is per mounth.

State pension £699.32. per month.

Expert:  taxadvisor.uk replied 3 years ago.

Please leave this with me and I will revert shortly.

Many thanks

Expert:  taxadvisor.uk replied 3 years ago.

Terence, based on information provided by you tax calculations for 2012-13 and 2013-14 are as follows:

Pension income - full year

Friendslife = £422

Prudential (116.68 x 12) = £1,400

State (699.32 x 12) = £8,392

Other income = £nil

Total (422+1400+8392) = £10,214

Personal allowance £10,500 same for both years

Total taxable = £NIL

Based on above calculations you should not be paying any tax.

Category: UK Tax
Satisfied Customers: 4507
Experience: FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)

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