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pension income

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › pension income

  • This topic has 3 replies, 2 voices, and was last updated 3 years ago by JillyB.
Viewing 4 posts - 1 through 4 (of 4 total)
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  • December 1, 2022 at 7:29 am #673001
    justalittlelost
    Participant
    • Topics: 30
    • Replies: 44
    • ☆☆

    Hello!
    When a question provides a certain figure as pension income ( say from state pension and occupational pension scheme) do we always tax it at the marginal rate and not worry about it being a part of the 25% lumpsum withdrawal unless it is specifically stated what the pension fund amount is and that the income is a lumpsum withdrawal?
    Thank you.

    December 1, 2022 at 3:34 pm #673045
    JillyB
    Keymaster
    • Topics: 0
    • Replies: 899
    • ☆☆☆☆

    Just take it as income and dont think too deeply. Add it to the non-savings column and tax accordingly. Keep it simple

    December 2, 2022 at 5:37 am #673084
    justalittlelost
    Participant
    • Topics: 30
    • Replies: 44
    • ☆☆

    Okay, got it. Thank you so much!

    December 2, 2022 at 10:59 am #673107
    JillyB
    Keymaster
    • Topics: 0
    • Replies: 899
    • ☆☆☆☆

    No worries

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