|
The Superannuation Arrangements of the University of London |
|||||
|
Pensioner Members ► Tax and your pension |
||||
|
Quick Links |
Your pension is treated as income and is taxable under the Pay As You Earn system in the same way that your salary was. We deduct basic rate tax from your first pension payment on what is called a ‘Month 1 basis’. This means that the payment is taxed without taking previous earnings into account. We supply your details to the Inspector of Taxes, who will look at your situation and then give us your correct tax code for your pension. If you wish to query your tax code, you will have to contact HM Revenue and Customs. The tax office dealing with your SAUL pension is: Public Departments 2 (MU5) The tax office’s reference number for your SAUL pension is 948/91P. Please tell them this number if you contact them. You should also tell the tax office your National Insurance number and your SAUL payroll number. If you have a general tax query, you may find it helpful to contact your nearest tax office or enquiry centre. Please look in your local phone book under ‘HM Revenue and Customs’ for the address and phone number or visit www.hmrc.gov.uk. The Department for Work and Pensions (DWP) does not take any tax from your State pension, but it is taxable. This means that any tax due on your State pension may be taken from your SAUL pension. Each April, therefore, you may find that more tax than you expected has been taken from your SAUL pension. This will probably be due to any increase in your SAUL pension or your State pension. In April or May of each year we will send you a form P60. This is a certificate showing your total pay and tax details for the tax year that ended on 5 April. Please keep your form P60 safe in case the tax office wishes to see it. |
|||
|
|||||
| Site mapDisclaimerLinks Your Feedback Problems Recruitment | |||||
