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Sam
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Category: Tax
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I have a pension from PARTNERSHIP ASSURANCE. I receive gross

Customer Question

I have a pension from PARTNERSHIP ASSURANCE. I receive gross £520 per month and this year they have taken off tax of approx. £40 leaving me £480. Previous years I have shown it as gross and their website calculates the tax with my other income. How and where and i what detail do I show this year this pension income as if I put in £480 I will be taxed again on this amount. I have already paid this tax at source.
Thank you *****
Submitted: 1 year ago.
Category: Tax
Expert:  bigduckontax replied 1 year ago.

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

It is not unusual for pensions to be taxed at source. However, you will not be taxed twice as your self assessment tax return requires you to declare the income and any tax deducted [boxes 11 & 12] and this will be taken into account in the taxation computation.

I do hope that I have been able to set your mind at rest on this matter.