Pension taxation calculator
Calculate how much income tax could be payable by your client if they take all or some of their pension fund as cash.
Using the tool
- Add the value of the pension pot to be taken as cash.
- Add any other taxable income relevant to the tax year, this could be salary payments, or any other income they may have.
It breaks down the total, showing their personal allowance, and the actual amount of tax payable at the basic rate, higher rate and any additional tax rate bands.
After these deductions have been taken into account, it will display your client's estimated net payment if they take the whole pension fund as cash.
The tool makes a number of assumptions, which will vary on the basis of your inputs and so we recommend that you familiarise yourself with the full list of assumptions at the foot of the tool. Tax rates and allowances are subject to change in the future.
You can find out more about the Pension Taxation Calculator by contacting us.
Please note that summaries can be printed and given to your clients.