I currently don't work and have no income. I have the following question.
Pension pot of £24,000
I understand I can take out 25% tax free so in this case £6000
If I then take out a further £10000 from the pot would I pay any tax on this amount ?
I have no income currently so am I right in thinking that I will pay no tax as my income (£10000 taken from pension pot) leaves me below the tax bracket ?
Pension pot of £24,000
I understand I can take out 25% tax free so in this case £6000
If I then take out a further £10000 from the pot would I pay any tax on this amount ?
I have no income currently so am I right in thinking that I will pay no tax as my income (£10000 taken from pension pot) leaves me below the tax bracket ?