How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask bigduckontax Your Own Question
bigduckontax
bigduckontax, Accountant
Category: Tax
Satisfied Customers: 4425
Experience:  FCCA FCMA CGMA ACIS
75394688
Type Your Tax Question Here...
bigduckontax is online now

I have been charged over £900 tax i no longer work and have

Customer Question

i have been charged over £900 tax i no longer work and have a state pension and a private one
Submitted: 2 years ago.
Category: Tax
Expert:  bigduckontax replied 2 years ago.

Hello, I am Keith, one of the experts on Just Answer, and happy to help you with your question.

Almost certainly your tax code for your private pension is incorrect. As you probably know your State Pension (SP) is taxable, but paid gross. HMRC usually recover the unpaid tax from your private pension by reducing the tax code from the standard 1060L to some lower number to collect the amount due on the SP. If this has not happened then your net receipts from your private pension will be being over paid.

You should always check tax codes on each and every time a new one is issued. Even HMRC admit that a large number of these codes they issue are incorrect. If yours is wrong you should take it up with the tax office which has issued it and ask for it to be corrected. My own initial coding has been wrong these last 20 years and you could have knocked me down with a feather when HMRC got it right, well nearly, this year!

If you could please advise me of the gross total State and private pension you receive I can have a stab at computing your liability. Of course, if you are in receipt of other income not taxed at source this will affect the issue.

I do hope that my response is of assistance.

bigduckontax and other Tax Specialists are ready to help you
Expert:  bigduckontax replied 2 years ago.
Thank you for your support.