Flaneur So how does that work in terms of pulling from your pension - does that get labelled as income and you are taxed on it?
Raposa Flaneur Sadly yes mate. I’ve had a few drawdowns in recent years, not massive amounts but just when needs must. No pockets in a shroud an all that.
space Flaneur So how does that work in terms of pulling from your pension - does that get labelled as income and you are taxed on it? Over 55 you can flip your fund into draw down mode and immediately take out up to 25% tax free. It does mean if you continue to contribute you can only put in a max of 10K a year into it, or draw further taxable amounts out.
otis CBIT depends if you draw over the 25% think . Remember pensions are not massive until they mature.
Raposa CBIT That’s right. I took 10k of which 2.5 k was tax free, the rest was taxed . However the 7.5 k was taxed at top rate so got a cheque back for a few hundred. quid a few months later by way of a rebate.
otis 2 t-shirts,pair of shorts for me jollies,shower gel and a washbag. Whitley Bay here I come Next Friday
hendersonjones Raposa So you can draw down each year £12,570 (personal tax allowance) from your pension , then work on the side cash in hand , happy days 🤪😁😂🤪😁😂
Cooley Puppy food. Puppy treats. Fencing. For puppy. Playpen for puppy. Harness for puppy. Costing a bloody fortune this..
Flaneur Cooley Yep - hope it never gets poorly, the vets fees are sky high. It's the equivalent to putting your kids through private schooling.
Anchor Taking inspiration from my inspiration to Harv I bought a second hand Huwawei GT2e from ebay for £28. https://consumer.huawei.com/en/wearables/watch-gt-2e/
Travis_Bickle Shirt sponsorship in the eldest's name for the new signing. Let's hope he doesn't end up on loan at Brackley like last year's....
Djpekingman 43 euros worth of fruit and veg. I'm not sure buying the mississ a juicer was a good idea....
Djpekingman space Especially when they give the bog roll substitue away free at airport and stations.....