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Can I apply for a tax refund?


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Hi

I was allowed to take my private pension at 52 due to cancer. 

I was taxed at the full rate. I have lived off my small lump pension pot and haven't worked or received any benefits. I am wondering if its possible to ask for a refund due to unemployment? 

Thanks in advance 

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Who was the pension provider?

It would have been taxed by the HMRC according to your tax code?

 

Being since? Unemployed makes little odds now

 

why did you not apply for atleast pip?

if you have cancer 9/10 payment is guaranteed esp if you get your consultant to full out the 1500 form i think it is.

 

Dx

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Hi.

 

I agree with dx about looking at benefits. You could try an online calculator like turn2us, run by a charity and anonymous.

 

So did you take out the whole of your pension pot directly from the provider as a lump sum because of serious ill health? Depending on how bad your condition is, tax isn't always payable.

 

Or did you transfer the pension pot to another provider?

 

HB

Illegitimi non carborundum

 

 

 

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Yes, I took it out as a lump sum from two providers as I couldn't work for the foreseeable future as cancer treatment was for 5 Years. I was not able to claim benefits due to the amount being over £16000

Edited by Ktker
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PIP is not means tested!!

 

 

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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WWW.MACMILLAN.ORG.UK

If you have been diagnosed with cancer, you may be able to get benefits or other financial support. We have got more information about this.

 

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I cannot give any advice by PM - If you provide a link to your Thread then I will be happy to offer advice there.

I advise to the best of my ability, but I am not a qualified professional, benefits lawyer nor Welfare Rights Adviser.

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Thank you for the extra information.

 

My understanding is that you can only draw out a pension pot before age 55 and tax-free if you have a life expectancy of less than a year - serious ill-health. Luckily, this doesn't seem to be the case with you, even if you're having to live with your treatment.

 

So as dx says, the amount you drew out was added to your income for the tax year when you cashed in the pensions and if it took you into higher rate tax, you were taxed accordingly. Sadly I haven't heard of a reason to reclaim the tax because your income has gone down subsequently.

 

HB

Illegitimi non carborundum

 

 

 

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