PENSION Wise provides information on how tax affects pensions in different circumstances. It is possible to receive a certain amount of cash from a pension pot tax free but the remaining amounts will face different rules for taxation.
Pensions, for the most part, will allow the pension holders to withdraw a chunk of cash from their pots without any tax penalty.
Up to 25 percent of a pension pot can be withdrawn before any tax is due.This tax-free amount doesn’t use up any of the holders personal allowance, which is the amount of income a person can receive before income […]
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