Starting to get my 明言する／公表する 年金 means I have to 支払う／賃金 所得税
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I was 66 earlier this month. I've had my 年金 letter to 確認する I am getting a 明言する／公表する 年金 of £203 a week - a lower 量 予定 to factors with my 私的な 年金.
How will the two 年金s be 税金d and how is my 税金 code calculated?
Do my 貯金 accounts and the 利益／興味 earned have anything to do with the 税金 code I am given?
I retired 早期に several years ago, 製図／抽選 my 私的な 年金 that is lower than the 年次の 税金 threshold on its own, but that will change when I get the 明言する／公表する 年金 同様に.
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財政上の planning: How will my 明言する／公表する and 私的な 年金s be 税金d and how is my 税金 code calculated?
Steve Webb replies: As things stand, your company 年金 and other taxable income are below the 税金-解放する／自由な personal allowance of £12,570.
This means that your 私的な 年金 provider is 支払う／賃金ing your 年金 without deducting any 所得税.
As you have worked out, once you start receiving your 明言する／公表する 年金, this will change.
Although 明言する／公表する 年金s count as taxable income, they are always paid 甚だしい／１２ダース ? that is, without the deduction of any 所得税.
However, as you rightly say, when you 追加する your 明言する／公表する 年金 of over £10,000 per year to your 私的な 年金, this takes you over the 税金 threshold and you start to become an 所得税 payer.
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The good news is that the 支払う／賃金-As-You-Earn (PAYE) system should come into play and 確実にする that the 権利 量 of 税金 is collected over the course of the year without その上の 活動／戦闘 on your part.
What happens is that DWP (which 支払う／賃金s your 明言する／公表する 年金) will 通知する HMRC how much 明言する／公表する 年金 it is 支払う／賃金ing you.
HMRC will know about your 私的な 年金 from （警察などへの）密告，告訴（状） 供給（する）d to it by your 年金 provider and will be able to see that you are now a taxpayer.
HMRC should then 問題／発行する a new '税金 code' to your 私的な 年金 provider 要求するing it to start deducting 所得税 before your 私的な 年金 is paid.
One consequence of this is that once you 明言する／公表する 年金 is in 支払い（額） you will see a 削減（する） in the 量 of 私的な 年金 you receive into your bank account.
The 税金 code is 始める，決める so that, if everything 作品 滑らかに, by the end of the 税金 year, the total 量 of 税金 deduc ted by your 私的な 年金 provider should match the 量 of 税金 予定 on your total income from your 明言する／公表する 年金 and your 私的な 年金 連合させるd.
Turning now to any taxable income you have coming in from 貯金 or 投資s, I have written in greater 詳細（に述べる） about how this is 税金d here: Do rising 利益／興味 率s mean more people have to do a 税金 return?
However, the 重要な points which are 関連した in your 状況／情勢 are:
- You have a 'personal 貯金 allowance'; as a basic 率 taxpayer this is £1,000 per year; 供給するd that your 利益／興味 income and so on is under this 人物／姿／数字, this will all be 税金 解放する／自由な;
- In 新規加入, you have something called a 'starting 率' of 税金 for saving which is 0 per cent; if your 連合させるd income from your 明言する／公表する 年金 and 私的な 年金 is いっそう少なく than £5,000 above the 税金 threshold (in other words, いっそう少なく than £17,570 this year) then anything spare up to that 人物／姿／数字 can be 始める，決める against your remaining taxable income from 貯金; for example, if your 明言する／公表する and 私的な 年金 come to £15,750, you can have another £2,000 of 利益／興味 income which is 税金 解放する／自由な;
- If your 貯金 income comes in the form of （株主への）配当s (held outside Isas and so on) then there is a その上の £500 per year 税金-解放する／自由な allowance. There is also a special lower 率 of 税金 on （株主への）配当s for basic 率 taxpayers of 8.75 per cent.
As with your 私的な 年金, your 利益／興味 income will usually be 報告（する）／憶測d 直接／まっすぐに to HMRC by your bank or building society.
If any of this 越えるs your allowances as 述べるd above, this will also be factored in to your 税金 code so that the 権利 total 量 of 税金 is paid.
In 要約, for most people with 比較して simple 税金 事件／事情／状勢s in 退職 such as a 明言する／公表する 年金, a 私的な 年金 and some modest 利益／興味 income, the 訂正する 量 of 税金 should be deducted automatically without その上の 活動／戦闘 on your part.
However, if you happen to have other income not known to HMRC, such as 賃貸しの income on a 所有物／資産／財産, then this would have to be 宣言するd 経由で 完全にするing a self-査定／評価 税金 return so that the 訂正する 量 of 税金 can be collected.
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