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Sam
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Can I take a tax free amount from a pension I am already drawing

Resolved Question:

Can I take a tax free amount from a pension I am already drawing on?
Submitted: 1 year ago.
Category: Tax
Expert:  Sam replied 1 year ago.

Hi

Thanks for your question - I am Sam and I am one of the UK tax experts.

I am afraid no, as the pension has already begun, you should have been offered this option (25% downdraw tax free of the pension) when it first became due and payable but I am sorry to say you cannpt then ask for this payment one the penaion has begun to pay out on a regular basis.

Let me know if you need any further assistance

Thanks

Sam

Customer: replied 1 year ago.

The reply is what I expected - but you can't blame a guy for trying!!

Thanks a Lot!

Regards

Peter

Expert:  Sam replied 1 year ago.

Hi Peter

Thanks for your response

Of course not - :)

And do take the time out to rate the level of service I have provided (or click accept) as this ensures that Just Answer credit for me for my time.

Do come back to Just Answer, if you need any help with tax or pensions in the future.

Thanks

Sam

Sam, Accountant
Category: Tax
Satisfied Customers: 13700
Experience: 26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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