Do I pay income tax when I’m retired?

If your income in retirement (whether it’s paid from a pension, a part-time job or your investments) is above the personal income tax allowance, then you’ll pay tax on any excess at the normal rate of income tax. This means you can currently receive up to £12,570 of income before you start paying income tax at 20% (although your personal allowance will be lower if you earn more than £100,000).

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