I understand that if a person is lucky enough to have an ARF from a private pension scheme , that they are obliged to take a mandatory payment of 4% in the year that they hit 61 or otherwise pay full tax on the notional withdrawal.
My question : Does it make a difference , tax wise whether this first withdrawal is taken , in theory on say , 1st January or 31st December ?
Say for example , one's 61st birthday was in June 2023 will the tax on the amount taken be accounted for in a person's 2023 tax year revenue returns no matter when the 4% payment is taken out ?
I hope my question is clear . If not I will try to clarify for ye. Thanks in advance.
My question : Does it make a difference , tax wise whether this first withdrawal is taken , in theory on say , 1st January or 31st December ?
Say for example , one's 61st birthday was in June 2023 will the tax on the amount taken be accounted for in a person's 2023 tax year revenue returns no matter when the 4% payment is taken out ?
I hope my question is clear . If not I will try to clarify for ye. Thanks in advance.