The Retirement Thread
3 lurkers |
173 watchers
24 Jun
2:43pm, 24 Jun 2024
55,398 posts
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EvilPixie
Thanks everyone 😁
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24 Jun
3:23pm, 24 Jun 2024
3,625 posts
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annadav
Congratulations @EvilPixie 🎉🥂
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24 Jun
3:24pm, 24 Jun 2024
55,399 posts
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EvilPixie
Thank you 🤩
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24 Jun
3:51pm, 24 Jun 2024
32,569 posts
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Johnny Blaze
Toot toot!
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24 Jun
3:53pm, 24 Jun 2024
32,570 posts
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Johnny Blaze
Has anyone found that moving into the pensioned class has done weird stuff to their tax code? Mine was 1257L and on my first pension payment from my largest pension provider they've told me my tax code is now 466 something. I'm properly confused.
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24 Jun
4:11pm, 24 Jun 2024
2,890 posts
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Shades
If HMRC haven't written to you about your tax coding you can log on using government gateway and see how your code is calculated.
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24 Jun
4:15pm, 24 Jun 2024
8,598 posts
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um
JB - are you getting any state pension? That is paid to you untaxed/gross, so your tax code is 'automatically' reduced from the 'tax free amount' by the amount of pension you get per year. Note it is also pension accrued, not necessarily paid. So if (eg) you were due to paid £400 on 7th April, about £384 of that would be taxed in the prior tax year, not the year you actually get it. |
24 Jun
4:17pm, 24 Jun 2024
5,881 posts
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FreshStart
Congratulations @EvilPixie 
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24 Jun
4:23pm, 24 Jun 2024
8,599 posts
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um
eg from last year, my tax coding (simplified a bit):- Personal Allowance £12570 Less State Pension £9650 Total tax free amount 'left' £2920 Tax code 292 That is sent to my 'main' company pension provider, while my secondary payment providers (FAS) are given a code of BR - 'tax everything at basic rate'. |
24 Jun
5:25pm, 24 Jun 2024
20,871 posts
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eL Bee!
Nice one EvilPixie 
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