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Post Info TOPIC: I have just taken a cash lump sum but have been charged higher rate tax - what can I do?


Newbie

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I have just taken a cash lump sum but have been charged higher rate tax - what can I do?
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I thought I would only pay basic rate tax but HMRC have treated me as a higher rate tax payer

Can I reclaim the tax backĀ 



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Billy

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The bad news is that although you may be a basic rate tax payer HMRC may tax your pension as if you were a higher rate tax payer.

The good news is that you can reclaim the tax back

This is complex but I have written a easy to understand page at - www.williamburrows.com/pension-options/cash/

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