Скачать или смотреть What Tax Will I Pay On My Pension Withdrawal? | Financial Adviser Explains

If you are planning to take a taxable lump sum from your pension and wondering what tax you might have deducted, this one is for you. Perhaps you've already made a taxable withdrawal, but don't understand the tax that has been deducted. In this video I talk through how pensions are taxed, break down some of the detail around PAYE and Emergency Tax, plus cover the recent change announced by HMRC for the Emergency Tax basis from April 2025.

State Pensions are also subject to Income Tax, but tax isn't deducted at source. With some having State Pensions above the Personal Allowance, you might find your personal pension income is impacted by this.

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Link to HMRC PAYE Tax Calculator:
https://www.gov.uk/guidance/work-out-...

Chapters
00:00 - Intro
01:25 - Basics of Pension Tax
02:25 - Income Tax Bands
03:37 - PAYE & Tax Codes
05:37 - Emergency Tax Example
06:37 - What Are HMRC Changing?
08:10 - Example Lump Sum Income Withdrawal
11:09 - What Can You Do About It? (Tips)
15:18 - Summary & Close

Disclaimer: This video is for guidance and entertainment purposes only and should not be seen as financial advice. Any opinions presented are my own and not representative of any firm. Any figures shown are purely for illustrative purposes. Your capital is at risk when you invest and you can get back less than originally invested. Taxation/legislation references based upon my understanding and legislation is subject to change. Always seek personalised advice tailored to your own circumstances and objectives.