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Related UK Tax Questions
Good Afternoon I have a query re drawing down on an old work
Good Afternoon I have a query re drawing down on an old work pension. This pension is a company pension and is not worth a great deal(approx £7,300) it has lost £400 since last year due to the current… read more
bigduckontax
bigduckontax
Accountant
FCCA FCMA CGMA ACG
1,314 satisfied customers
I am becoming increasingly confused by the pension LTA. My
I am becoming increasingly confused by the pension LTA. My wife and I have separate pension arrangements and we had both thought the LTA to be a limit on the tax free amount of contributions made by u… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
L am 54 in november, l have a question about the new
hello l am 54 in november, l have a question about the new UK pension rules which means that l will be able to take my pension pot at age 55. To avoid take beyond the 25% sum you are allowed to take, … read more
bigduckontax
bigduckontax
Accountant
FCCA FCMA CGMA ACG
1,314 satisfied customers
If my total of pensions grow to £2m (beyond the £1.25m ceiling)
If my total of pensions grow to £2m (beyond the £1.25m ceiling) in, say five years time, 1) can i draw a lump sum of £375k and then 2) do I get taxed at 55% on income derived on the difference between… read more
Sam
Sam
Accountant
Higher Officer HMRC
15,709 satisfied customers
I am 60, still working freelance, and resident in France since
I am 60, still working freelance, and resident in France since last September. My personal pension matured on my 60th birthday and I have been drawing down around £350 per month. I have a Civil Servic… read more
TaxVince
TaxVince
Senior Accountant
Master's Degree
899 satisfied customers
A family member used to own his own business up until mid to
A family member used to own his own business up until mid to late 80's. He sold the business and was living in temporary accommodation to decide what to do with his future with his family. He tells me… read more
berduchwal
berduchwal
Accountant
Licenciatura
669 satisfied customers
Can you please help me to understand the new taxation rules
Can you please help me to understand the new taxation rules for pensions? If a pension were to exceed the new lifetime allowance, how will the revenue calculate the tax owing? And how will they take i… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
I am trying to work out whether it is a good idea to take my
I am trying to work out whether it is a good idea to take my trivial pension lump sum, certainly all I have read and received advice is that is the way to go. The pot is just over £10k, so I could tak… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
I took early retirement in December 2010 however I do not have
I took early retirement in December 2010 however I do not have any further income at present although I am looking for part time employment. Also I have deceided not to draw down any of my private pen… read more
Sam
Sam
Accountant
Higher Officer HMRC
15,709 satisfied customers
Hi, I was a director of a company that has ceased trading over
Hi, I was a director of a company that has ceased trading over two years ago and has been disolved for 6 months. The tax man tells me the company owes him £8k in corporation tax and that I am liable t… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
CGT for low earners remain 18%. I am unsure how this is calculated.
In the new Budget of 22 June 2010, CGT for low earners remain 18%. I am unsure how this is calculated. If my pension per year is £36,000 gross, and share dealings from my savings gain me £120,000 prof… read more
Sam
Sam
Accountant
Higher Officer HMRC
15,709 satisfied customers
I am a married man, 64years of age, retired through ill health.
I am a married man, 64years of age, retired through ill health. My wife works and pays her own PAYE. I am payed an annual company Pension of 5,900-00p and receive 4,648-00p Incapacity Benifit. My tax … read more
Sam
Sam
Accountant
Higher Officer HMRC
15,709 satisfied customers
my tax code has been dropped from 647L to 140L and has resulted
my tax code has been dropped from 647L to 140L and has resulted in a deduction of £20.00 nett pay, and i cant figure out why as i have no other income other than £63.84 per month working tax credit as… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
I am 79 years of age on works pension and state pension and
I am 79 years of age on works pension and state pension and my tax code has changed from last year 216T to this year 80 T PLEASE EXPLAIN POSIBLE REASON… read more
Andrew Baker(baktax)
Andrew Baker(baktax)
Personal Tax Adviser
High School or GED
756 satisfied customers
i have a outstanding 28000 pound tax bill last year 2006 the
i have a outstanding 28000 pound tax bill last year 2006 the tax man is not pursuing i am on disabilaty benifit i have just found out that i have a pension pot of 16000 pounds not payed into for 20 ye… read more
Julie Kingham
Julie Kingham
Director
Chartered Tax Adviser
733 satisfied customers
I have had a bill from the tax man saying i owe them 5500
I have had a bill from the tax man saying i owe them £5500 due to not paying enough tax on my army pension, i left the army after 22 years service in 2004 and have worked fulltime since then. They are… read more
TEAP007
TEAP007
Tax Preparer
Fully Trained Inspector of Taxes B1
759 satisfied customers
i am self employed and my partner helps me but he does not
i am self employed and my partner helps me but he does not work could i put him under my buisness so as i could pay his national in surance an d tax but as we only have my wage coming in how would it … read more
Sam
Sam
Accountant
Higher Officer HMRC
15,709 satisfied customers
i currently owe an outstanding tax bill from 3 years ago when
i currently owe an outstanding tax bill from 3 years ago when i lived in the uk .i am currently living in austraila can u tell me is it possible for the tax man to take money from a joint bank account… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
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Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

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