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Post Info TOPIC: Will I have to pay more tax on my pension because of the new "Boris Taxes"
Chris Taylor


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Will I have to pay more tax on my pension because of the new "Boris Taxes"
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Will the new  Health and Social Care Levy affect me?



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William Burrows


Billy

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The new "Boris taxes" you refer to are the increase in National Insurance and the increase in tax on dividends.

Both taxes will rise by 1.25% from April 2022.

there is a good article on the BBC website

NI is a tax on income from work so it is not paid on pension income so it will not affect any income from pensions e.g. annuities, drawdown or company pensions.

However, if you continue working past state pension age you have to pay NI on your earnings - previously NI was not payable on income after retirement age



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