Dear Friend,Hello and welcome. Thank you for providing an opportunity to assist you.Yes absolutley. You have understood it correct. As per the new amendments, you would be able to withdraw full pension in 2015. However, also as you have very correctly understood, there will be a tax liability attached to it, but you will be certainly able to withdraw in full.
The amount you withdraw would be treated as income for that tax year, pushing the individual into the higher-rate tax band for the year.I am sure this would help.You may please leave a positive rating if this helps as this is the only way we are compensated for assisting you. Alternatively, you may revert back with a reply if you need further assistance or if I have missed out on any aspect of your question.Warm Regards
To: Rakhi V
Thank you very much for the information regarding my drawdown pension.
Mike Upton - Bedford UK.