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Tax Free Cash After Drawdown Starts

AsleepInYorkshire
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Tax Free Cash After Drawdown Starts

#445154

Postby AsleepInYorkshire » September 24th, 2021, 9:31 pm

I have a private pension.

If I start to drawdown from the pension pot before I take any tax free allowance can I take that tax free allowance afterwards?

Thank you

AiY

AsleepInYorkshire
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Re: Tax Free Cash After Drawdown Starts

#445158

Postby AsleepInYorkshire » September 24th, 2021, 9:56 pm

No

Thanks I found the answer :?

AiY

AWOL
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Re: Tax Free Cash After Drawdown Starts

#446101

Postby AWOL » September 28th, 2021, 9:00 pm

If you found an answer that isn't "no" then I would be interested!

Laughton
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Re: Tax Free Cash After Drawdown Starts

#446115

Postby Laughton » September 28th, 2021, 10:02 pm

Isn't the answer to take the tax free cash from part of the pension thereby crystalising that part then taking drawdown from that part leaving the remainder untouched.

If you've already started drawing down then the above is academic.

TwmSionCati
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Re: Tax Free Cash After Drawdown Starts

#446729

Postby TwmSionCati » September 30th, 2021, 8:03 pm

Laughton wrote:If you've already started drawing down then the above is academic.


Not sure I follow that?

I started drawing down from my Sippdeal eSIPP donkey's years ago, but last month a page on the website I'd never visited revealed an as-yet-uncrystallised part I'd overlooked. Needing some cash just then, I asked for and was given 25% of it tax-free by way of 'pension commencement lump sum'.

TSC

swill453
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Re: Tax Free Cash After Drawdown Starts

#446737

Postby swill453 » September 30th, 2021, 8:15 pm

TwmSionCati wrote:
Laughton wrote:If you've already started drawing down then the above is academic.


Not sure I follow that?

I started drawing down from my Sippdeal eSIPP donkey's years ago, but last month a page on the website I'd never visited revealed an as-yet-uncrystallised part I'd overlooked. Needing some cash just then, I asked for and was given 25% of it tax-free by way of 'pension commencement lump sum'.

If you've been adding to your pension since the original crystallisation then the new money has gone into an uncrystallised pot. Either that or you didn't crystallise it all originally.

(The "page on the website I'd never visited" didn't exist until a few weeks ago. See viewtopic.php?f=17&t=30746)

Scott.


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