Hello
I am 60, non uk resident with a uk personal pension which I stopped funding in 1999 but has grown to over 100K.
I wish to take lump sum withdrawals and understand the 25% tax free/75% tax rule. The pension provider will withhold tax at source using the emergency tax code.
As I do not have any other UK income and expect to be overpaying on the emergency tax code, what is the maximum withdrawal I can make to stay within the 20% rate which I can claim back with the P45? Will I be able to claim the overpayment immediately or do I have to wait and file a self assessment tax return?
Thank you.
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