Hi
Just like some advice regards cashing in lump sum pensions (2)and still working.
Last October I cashed in a pension for the full amount before tax which was £23500.
I paid the tax on that pension and claimed some back as I'd paid too much hmrc refunded no problem.
Waiting for the tax year 2015/16 to finish I wanted to cash in another pension pot this time before tax was £28500,however the pension provider took the tax off and paid the remainder to my bank account on 29th March
What I would like to ask is does the 75% of the recent cashed in pension is it added to my employment income before tax which is £24000 per year and the pension I cashed in last October
I receive the personal allowance on salary £10660,so in tax year 2015/16 I paid tax on my salary and tax on 1 pension .
Like I said I wanted to wait till the new tax year incase the salary and pension income took me into the higher tax bracket of 40%
Thanks in advance for any advice
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