Tax on Pension Withdrawal

This calculator is designed to help those, over the age of 55, who are considering making a one off withdrawal from their pension fund using the new pension freedoms.

What does the calculator show?

The calculator starts by showing you the tax you will pay on a one off taxable pension withdrawal given the other taxable income you already have for the current tax year. It goes on to show how this might reduce if you spread the withdrawal over up to three tax years.

Please click here to find out how to use this calculator, what it tells you and the assumptions it makes

To calculate the tax payable on taxable pension withdrawals (having taken the 25% tax-free cash sum), fill in the first two values in the table below and click "Calculate".

£

£

 

Tax paid on other income

£

Tax paid on withdrawal

£

Effect of spreading withdrawal over three years

 

Year 1

Year 2

Year 3

Other income

£

£

£

Withdrawal

£

£

£

You can adjust the values above and then...

Tax paid on other income

£

£

£

Tax paid on withdrawal

£

£

£

Total tax paid on other income

£

Total tax paid on all withdrawals

£

Tax saved by spreading withdrawals

£

 

Tideway Investment Partners LLP
is authorised and regulated by the
Financial Conduct Authority.
FCA number 496214.

Contact
Tideway Investment Partners LLP
83 Victoria Street
London SW1H 0HW
LLP No. OC343430
Tel. +44 (0)20 3178 5982
info@tidewayinvestment.co.uk