Will tax be deducted from my annuity?
all regular annuity income payments are treated the same way as
your previously earned income you used to collect while working when it
comes to taxation. Subject to your personal circumstances and personal
allowance, if you are a United Kingdom basic rate taxpayer, you will be
taxed at the rate of 20% on your annuity income for the tax year to April
5th, 2013. Your qualified independent financial adviser will be able to help
in this regard, and for more generic information, please refer to
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by: Annuity Advice on Sunday 24/02/13