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TAXATION ON PENSION

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chocaloc
Posted by
Junior Member

05 Mar 18 #500028 by chocaloc

Topic started by chocaloc

I hope someone can help. We agreed a 50% PSO. Ex retired 4 years ago and received his share of pension and his share of tax free lump sum. Our agreement was that I retained the equity in our house, and he would get all the lump sum. I am due to receive the pension any day now. As agreed I will forward the tax free lump sum element to him - but will he be taxed on this? I know I'm not as it forms part of the pension package, but neither of us gave any thought to him paying tax. We're talking of around £50k so tax may be a substantial amount! Any help would be much appreciated.

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