pensions lump sum

pensions lump sum

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If a client has a small pension of say £10k and takes the lot as a lump sum, they will be taxed on 75% of it with 25% tax free

If they have limited other income can they reclaim the tax paid on the 75% of the taxable amount through their tax return?

I cant find any info on this anywhere

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By duncanedwards
17th Mar 2015 13:15

The 75% is just pension and income of the relevant year. If tax deducted exceeds tax due, repayment could be claimed as per usual.

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