Tax on Pension Withdrawal Calculator

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


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


Contact us about income drawdown solutions

Important information

  • Please be aware that this calculator is based on our understanding of current HMRC rules and guidance.
  • It is intended as guidance only and Tideway cannot be held responsible for any tax liability incurred as a result of using this calculator.
  • The actual tax you may be liable for is dependent on individual circumstances and, to ensure you have an accurate understanding of your tax liability, we recommend you seek professional advice

Tideway Investment Group comprises the following entities: Tideway Investment Partners LLP and Tideway Wealth Management Limited. Tideway Wealth Management Limited is an appointed representative of Tideway Investment Partners LLP, which is authorised and regulated by the Financial Conduct Authority. FCA number: 496214.

Tideway Wealth Management Ltd
107 Leadenhall Street
London EC3A 4AF

+44 (0)20 3143 6100

© Tideway Investment Group 2021