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Sorry if this is in wrong place.

Quick version is I need to pay tax man in 2 months time money I haven't got.5.8k I'm 51 and have pensions with Standard Life.my question is if I plead with them would they release that amount from my pension pot.im desperate, I can't get a loan and I've no family. I'm up  creek.can anyone advise if the would consider it pre 55 ....hope someone can help.

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Hi.

 

I've moved your thread to the pensions forum and left you a link to follow from the Welcome one.

 

I'm afraid the decision to release your pension funds isn't up to Standard Life, they have to follow Inland Revenue rules. These say that you can't draw a pension until you're 55 and as far as I know, the only way to access the funds early is if you're terminally ill.

 

HB


Illegitimi non carborundum

 

 

 

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You might consider posting on our HMRC and benefits forum about the problems with the Revenue in case there's a way to alleviate the payment problem.

 

HB


Illegitimi non carborundum

 

 

 

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If your pension scheme does indeed allow you to take some money early you will have to pay tax on it before you can pass it on to the taxman!

as they cnat touch you pension pot I wouldnt be considering this option anyway.

Why do you owe taxman this money? self employed? If so then you should be able to mitigate the payment  and pay it in quarterly lumps or whatever and if your income has dived you can probably write off a large amount of this against your current and future losses.

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