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. In 2022/2023 this means you can 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).

Was this article helpful?

Please score it so we can improve and offer you more

 Members 16 people found this helpful