Beware of the thieving HMRC!!!!

pie.thatcher

Lantern Swinger
Am in receipt of pussers, local government and state pension, effectively pay tax on pussers and local government pension as state one is less than personal allowance. Always gives me a warm glow when I think how much tax I paid from age 16 to 65 only to pay even more to keep the likes of the bone idle sod living opposite me.
You are paying tax on your state pension (unless I'm getting riped off) they deduct your state pension from youre tax code, so it is taxed. It just comes off your pussers pension. My tax code is 305, pussers, occupational and state pensions. But I agree entire with your comments on the idle bastards. I have a relative who complains about how low his state pension is. My only answer is "you should have worked"
 

scouse

War Hero
Am in receipt of pussers, local government and state pension, effectively pay tax on pussers and local government pension as state one is less than personal allowance. Always gives me a warm glow when I think how much tax I paid from age 16 to 65 only to pay even more to keep the likes of the bone idle sod living opposite me.
:salut:
The Department for Work and Pensions does not deduct tax from your state pension, but it is taxable income. Instead, the state pension is normally taxed by an adjustment to the PAYE tax code for your private or occupational pension. This means that part of your tax free personal allowance is allocated against your state pension, and this reduces the personal allowance available against your other income.
 

trelawney126

War Hero
:salut:
The Department for Work and Pensions does not deduct tax from your state pension, but it is taxable income. Instead, the state pension is normally taxed by an adjustment to the PAYE tax code for your private or occupational pension. This means that part of your tax free personal allowance is allocated against your state pension, and this reduces the personal allowance available against your other income.
Whichever way you look at it Scouse, it's still robbery.
 

bollotom

War Hero
State pension + Occupational Pension - personal allowance and pay 20% Tax. Aand as has been said, they take the State Pensh into account but deduct from Occ Pensh so it looks like they aren't robbing you. I get around £600/month State Pensh, my tax code for this year is 270P so £10500 allowance, State Pensh -£7792 gives me a tax free amount of £2708. I will be taxed 20% on the first £32010, at 40% on income between £32011 and £15000 and 45% on anything over £150000. Oh and I'm 69 Yrs old. Rummers has the idea. If you're going to get high wads of dosh get financial advice, could save you a packet in the long run. :)

Edit to remove accidental Fwittery
 
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