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TonyTax
TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15916
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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I am on a state pension how much can I earn before I have to

Resolved Question:

I am on a state pension how much can I earn before I have to pay tax?
Submitted: 2 years ago.
Category: Tax
Expert:  TonyTax replied 2 years ago.
Hi.

Can you tell me what your date of brith is and how much state pension you get please.
Customer: replied 2 years ago.

State pension £596.4. DOB 14/10/35

Expert:  TonyTax replied 2 years ago.
Thanks.

Do you receive the pension every 28 days or monthly? If you receive it every four weeks, then the payment day will be different almost every month.
Customer: replied 2 years ago.

Every 4 weeks

Expert:  TonyTax replied 2 years ago.
Thnaks.

Leave this with me while I draft my answer.
Expert:  TonyTax replied 2 years ago.
I'm back.

As you were born before 6 April 1938, you are entitled to a personal allowance of £10,660. As your state pension is £7,753 per annum (£596.40 x 13), you have £2,907 of unused allowances so you can have further income of £2,907 without paying tax.

If you are married and one spouse doesn't use all their personal allowance, from 6 April 2016, they will be able to transfer up to £1,050 of their personal allowance to their spouse. You can read about that here.

I hope this helps but let me know if you have any further questions.
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