{"id":14914,"date":"2016-05-31T13:00:25","date_gmt":"2016-05-31T06:00:25","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/i-took-some-money-from-a-pension-pot-and-have-now-been-sent-a-ridiculously-high-tax-code\/"},"modified":"2016-05-31T13:04:17","modified_gmt":"2016-05-31T06:04:17","slug":"i-took-some-money-from-a-pension-pot-and-have-now-been-sent-a-ridiculously-high-tax-code","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/i-took-some-money-from-a-pension-pot-and-have-now-been-sent-a-ridiculously-high-tax-code\/","title":{"rendered":"I took some money from a pension pot and have now been sent a ridiculously high tax code"},"content":{"rendered":"


\nHMRC has estimated my income tax is \u00a3291,072 \u2013 more than ten times what I\u00a0actually payI am on a modest university pension (\u00a325,555) and do a bit of freelance work (perhaps worth \u00a34,000), while this April I\u00a0took \u00a312,500 out of a small additional pension pot. This morning I received a letter from HMRC, telling me my tax code for the current year was K36211X.I discovered that HMRC has estimated my taxable income to be \u00a3677,717 and estimated PAYE income tax is \u00a3291,072 (more than 10 times what I\u00a0actually pay). HMP, London Continue reading…
\n
\nSource : theguardian.com
\nRead more…I took some money from a pension pot and have now been sent a ridiculously high tax code<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

HMRC has estimated my income tax is \u00a3291,072 \u2013 more than ten times what I\u00a0actually...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-14914","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-3Sy","jetpack-related-posts":[{"id":84372,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/shocking-disparity-in-pension-income-revealed-by-latest-hmrc-data\/","url_meta":{"origin":14914,"position":0},"title":"'Shocking' disparity in pension income revealed by latest HMRC data","date":"April 2, 2018","format":false,"excerpt":"\r Pensioners in one central London local authority receive three times as much as those in StokeThe average pensioner living within London\u2019s Square Mile enjoys an income that is three times bigger than their counterpart in Stoke-on-Trent, according to a new analysis of government data that reveals \u201cshocking\u201d differences across\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":23873,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hmrc-takes-aim-at-tax-dodgers-hiding-foreign-income\/","url_meta":{"origin":14914,"position":1},"title":"HMRC takes aim at tax dodgers hiding foreign income","date":"August 24, 2016","format":false,"excerpt":"\r \r \r Source : telegraph.co.uk\r Read more...HMRC takes aim at tax dodgers hiding foreign income","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":23339,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/landlords-hmrc-is-closing-in-on-your-undeclared-lettings-income\/","url_meta":{"origin":14914,"position":2},"title":"Landlords \u2013 HMRC is closing in on your undeclared lettings income","date":"March 15, 2014","format":false,"excerpt":"\r The Revenue is on the trail of \u00a3550m missing tax \u2013 and is urging landlords to come clean, or risk higher penaltiesLandlords who have failed to declare their rental earnings to HMRC are being warned to pay up or face higher penalties.The Revenue is targeting widespread tax evasion on\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":11514,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/quarter-of-a-million-savers-take-advantage-of-pension-freedom\/","url_meta":{"origin":14914,"position":3},"title":"Quarter of a million savers take advantage of pension freedom","date":"April 27, 2016","format":false,"excerpt":"\r HMRC says amount of money withdrawn from pension pots in the year since the new rules has dropped to \u00a3820m from \u00a31.5bnSavers have withdrawn at least \u00a34.35bn from pensions in the year since new flexibilities were launched, official figures show. Data from HMRC shows that 232,000 people have taken\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":133880,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hmrc-targets-tax-dodging-social-media-influencers-in-latest-campaign\/","url_meta":{"origin":14914,"position":4},"title":"HMRC targets tax-dodging social media influencers in latest campaign","date":"January 19, 2023","format":false,"excerpt":"\r \r \r Source : telegraph.co.uk\r Read more...HMRC targets tax-dodging social media influencers in latest campaign","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":26007,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/reign-of-terror-tax-credit-company-loses-hmrc-contract\/","url_meta":{"origin":14914,"position":5},"title":"'Reign of terror' tax credit company loses HMRC contract","date":"September 14, 2016","format":false,"excerpt":"\r US firm Concentrix heavily criticised by Frank Field will not be given further work by tax collectorFrank Field, the chair of parliament\u2019s welfare committee, has said that a company\u2019s \u201creign of terror\u201d over British tax credit recipients will be drawing to a close after HMRC decided not to renew\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/14914"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=14914"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/14914\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=14914"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=14914"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=14914"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}