15 tax mistakes costing retirees (and how to avoid them)
15 tax mistakes costing retirees (and how to avoid them)
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Avoiding costly tax mistakes: Where taxpayers can slip up
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These are 5 of the most common pension mistakes I see people make in the UK. Fixing them early can save you thousands in the long run. #UKPension #UKTax #Tax #retirementplanning #retirement
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These are 5 of the most common pension mistakes I see people ma…
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TikTokrachel_explains_tax
Pension Drawdown Thinking about taking money from your pension? Here’s the truth: £10,000 doesn’t always mean £10,000. With pension drawdown you can normally take 25% tax-free. The rest is taxed as income, which means: • With unused personal allowance you could keep the full £10,000 • As a basic-rate taxpayer you might keep around £8,500 • As a higher-rate taxpayer you could be left with as little as £7,000 👉 Drawdown gives you flexibility and control — your pot stays invested, and you can take
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