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Additional state pension

Inherited

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Am I correct in assuming that the additional state pension whether inherited or not is fully taxable? 

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By Paul Crowley
16th Nov 2021 14:46

Yes as I understand it. By inherited I assume spouse of the deceased.
But for the clients that are in self assessment the agent portal shows the taxable state pension once all settled
By that I mean year one when pension commences is often missing

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By Hugo Fair
16th Nov 2021 18:55

+1

"Am I correct in assuming that the additional state pension whether inherited or not is fully taxable?"
Yes, because ... there is no separate 'inherited pension'. Various 'rights' go into determining an individual's state pension - and these can include (but only in some circumstances) rights associated with entitlements of a deceased partner.
The net result is a single State Pension payable to the individual (irrespective of all the component reasons) - and that SP is taxable.

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By Catherine Newman
17th Nov 2021 12:52

I agree.

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