Pensions and Retirement

When you access your pension, HMRC often deducts too much tax because your pension provider doesn't have complete information about your total income for the year. Fortunately, you can claim this overpaid tax back using specific HMRC forms designed for different pension scenarios. The form you need...

7 min read

The pension annual allowance sets a limit on how much can be saved into your pensions each tax year before you face a tax charge. For 2025/26, the standard annual allowance is £60,000, but high earners may face a reduced allowance through 'tapering', and if you exceed your lim...

6 min read

When you inherit someone's pension, the tax you pay depends on how old they were when they died, what type of payment you receive, and how quickly the pension is paid out. If the pension holder was under 75, you may pay no tax at all — but there are important allowances and time limits to be aware...

5 min read

Most pension income in the UK is taxable, including the State Pension and private pensions. You only pay tax if your total income from all sources exceeds your Personal Allowance, which is £12,570 for the 2025/26 tax year. The way your tax is collected depends on the types of pension you receive...

5 min read