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Ask Your Own Question, Chartered Certified Accountant
Category: UK Tax
Satisfied Customers: 4995
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

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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.


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


Thank you for your question..


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 4 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.

Terence, thank you for your prompt reply.


Please leave this with me and I will revert shortly.


Many thanks


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.


I advise you to contact HMRC and ask them to review your tax code. They should communicate with your pension providers and amend your tax code as your income is less than your personal allowances.


If you need more information please let me know before you rate my service.


I hope this is helpful and answers your question. I am available for any follow up questions you may have, and you can use the reply button to post your follow up questions to the page.
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