pension and tax

[speedyman]

I shall soon be claiming my private pensions. Do you have to notify hmrc and how is any tax due collected, I.e. mothly, at end of tax, at source.

[driverrob]

From my experience, your pension provider will request a tax code from HMRC and then it will be taxed at source, just like PAYE.
Mine is a teacher's pension and became my main source of income when I retired. which may or may not have made a difference.

[The Leaper]

You do not have to advise HMRC. The pension administrator is required to deduct tax at source before payment to you, and will probably operate on an emergency code basis until HMRC catch up with the fact that you're getting the pension, whereupon your tax code will be amended and tax due/overpaid will be corrected. The administrator should ask you for your tax office and reference number so they should do all the work to get the tax correctly deducted.

R.