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I am due to get a pension on my 55 birthday in May, the total

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I am due to get a pension on my 55 birthday in May, the total amount is £20,190,85. Tax free lump sum £5,047,71.and an open market option of £15,143,14.i have been told that This will be taxed at emergency rate, or higher rate, I'm on ESA so don't pay tax, how do I claim this back.
Submitted: 7 months ago.
Category: Tax
Expert:  bigduckontax replied 7 months ago.
Hello, I am Keith, one of the experts on Just Answer, and pleased to be able to help you with your question. The tax treatment of your liberated pension is perfectly normal. There are two ways to claim it back if too much tax has been deducted. The first is by means of a self assessment tax return at the conclusion of the tax year in which the payment was made. You will have to do this anyway in view of the payment received. The second, as you do not pay tax, is to approach your tax office once these deductions have been made with a view to an interim refund of tax deducted. They may tell you that you do not need to self assess anyway which will be another chore which will not be needed. I do hope that you have found my reply of assistance.

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