Which benefits are taxable

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Fiz

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Which benefits are taxable

  • on: 24 Jan 2017 05:22PM
If my sole income is income related ESA support group and PIP and I chose to draw down 5000 from a pension (to get a car) does than mean my income will have gone over the 11,000 personal allowance that's tax free because of either the ESA or PIP? 

Or are those 2 benefits not taxable so the 5000 would be tax free?

Regards

Confuzzled Fiz

KizzyKazaer

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Re: Which benefits are taxable

  • on: 24 Jan 2017 06:33PM
Hi Fiz - both income-based ESA and PIP are non-taxable benefits, if that answers your question!

Fiz

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Re: Which benefits are taxable

  • on: 24 Jan 2017 06:52PM
Yes I think it does. So if I draw down up to 5000 from my pension pot it won't affect my benefits and it wouldn't be taxed it seems. If I'm correct.

I see the possibility of regaining a car once I'm 55!