Pension Tax Refunds

Why can I claim a refund once I have drawn my pension?

When you reach the age of 55 and have been paying into a personal or private pension, you have the option to draw a lump sum from your pension pot. 25% of this will be tax-free, and you will have to pay income tax on 75% of the amount drawn. Now here is the thing, when you draw this money your pension provider will be paying this through the PAYE system. So, if you take a lump sum of £20,000, you'll pay tax as though you were earned a staggering £240,000 so it is highly likely that you have been overtaxed.

Start your claim

Fill out the form below to get started

Latest News

Useful tax information, Claim Back Tax operations and more...

married couple hands

What Will a Post Coronavirus Wedding Look Like for Those Wanting to Get Married?

Earlier this month we discussed the additional hardships couple were facing from cancelling or postponing their wedding due to the pandemic. Following on from this, we thought we’d examine what..

Read Article
Married Couple Bouquet

Couples Due to Get Married Hit with Massive Charges

It’s meant to be one of the best days of your life. You’ve saved, you’ve waited what feels like ages and you’ve spent so much time planning to make sure..

Read Article
Coronavirus scams

Protect Yourself Against Coronavirus Scams

The world is currently in the midst of a global pandemic that will change the normal daily lives of everyone beyond anything like we’ve seen in over a generation. So,..

Read Article