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apology for the delat I receive 184.41 state pension, 1st private 262.51 and 2nd 7487.76
Thanks.Just to clarify, is the state pension paid monthly or every 28 days (four weekly)? Is the 1st private pension figure of £262.51 an annual or monthly figure?
state pension paid every 28 days, 1st pension paid monthly 262.51
I'm back.I'm assuming that you were born after 5 April 1948.Your annual income is £13,035 (£2,397 state pension + £3,150 private pension + £7,488 private pension). You have a personal allowance of £10,600 so you should pay tax at 20% on £2,435, £487 per annum or £40.58 per month.You should have the personal allowance against the larger pension. The state pension should be deducted from the personal allowance to leave you with net allowances of £8,203 (£10,600 - £2,397). Of those allowances £7,488 should ensure you pay no tax on your largest pension. The balance of your allowances of £715 should be transferred to the £3,150 pension (£262.51 x 12) so that you pay tax of £487 on £2,435.Call the tax office on the number here to have your tax codes reviewed and changed if necessary. They will do that while you are on the phone to them.I hope this helps but let me know if you have any further questions.