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27 July 2010

Hi My wife is 63 in September and she had deferred collecting her state pension until then, consequently she has ammassed a substantial sum.

My wife has never earned enough to pay income tax, if she had opted to collect her pension at age 60 she would still not be paying income tax. The pensions authorities have informed her what the amount will be on her sixtieth birthday and that she will recieve this as a lump sum, howver she will be liable to pay the income tax on the substantial sum. My question is: Since she has never paid tax and if she had collected her pension at retirement age, she would still not pay tax then will she legally be liable to any such tax levy should because she is collecting her pension 3 years later. Please emlighten me. Best Regards. John Morton

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