Pension and ESA
pze1
Community member Posts: 2 Listener
Hi, first post, I was pointed in this direction from a phone call to scope. Does anybody know how my wife's contribution based ESA could be affected by taking the 25% tax free of her pension? She's also in the support group. The remaining 75% would be reinvested in a pension fund so there wouldn't be any regular earnings but more an added income for that tax year. The money would be used to buy a car and doing some things around the house so wouldn't be added to savings for very long. Hope this all makes sense and TIA for any advice
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Comments
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It would be treated as capital and capital has no impact on contribution based ESA0
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Thankyou very much
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Wishing you a very warm welcome to the community @pze1
Good to hear that someone from Scope pointed you our way, I hope the above information has been helpful for you.0 -
I have been on contributory ESA for many years, left work due to ill health and took a lump sum and pension. I have at last this year become eligible for my state pension. Even before I received my first mths state pension I had a letter from HRMC to inform me I would be over the tax threshold and will once again become a tax payer!! We have though just found out that as my hubby doesn’t pay tax I can pinch some of his tax code so things may not be as bad as it sounds!!!!0
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@pze1, hello and welcome. As for having some of your husbands tax allowance have you claimed the married allowance if not it can be back dated a few years other wise I think you can only claim £1250 tax allowance from your hubby / partner. Every little helps.0
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