Jaipur Wealth Management:Your benefits, tax and pension after the death of a partner

Your benefits, tax and pension after the death of a partner

Your income will probably change after the death of your partner.

If you get extra money from pensions, annuities, benefits or an inheritance, you may need to pay more tax. You may be on a lower income and need to pay less tax.

Your tax allowances – the income you do not pay tax on – may also change.

Tell HMRC if you get:Jaipur Wealth Management

interest from a bank, building society or a National Savings and Investment product, for example pensioner income, capital bonds

income from letting out propertyNew Delhi Wealth Management

income from Purchased Life Annuities

Widowed Parent’s Allowance or Bereavement Allowance

Carer’s Allowance

foreign pension payments

other income that should have been taxed but has not been

You do not need to tell HMRC about:

income your employer pays tax on through PAYE

income from a private pension

income which does not get taxed, for example from an Individual Savings Account (ISA)

any income if you’ll reach State Pension age within 4 monthsJaipur Stock

getting Jobseeker’s Allowance (JSA), Incapacity Benefit, Employment and Support Allowance (ESA) or Bereavement Support Payment

Tell HMRC about a change in your income:

in your next Self Assessment tax return, if you’re registered for Self Assessment

by phone

If you pay Income Tax, you’ll have a Personal Allowance – income you do not pay tax on. Your allowance may change if your income changes.

HMRC will automatically adjust your Personal Allowance when you tell them about your change of income.

If you or your husband, wife or civil partner were born before 6 April 1935, you may have been claiming Married Couple’s Allowance. You’ll still get the allowance for the current tax year (up to 5 April) but HMRC will automatically stop it after that and you’ll get just your Personal Allowance.

If your husband, wife or civil partner was claiming Blind Person’s Allowance, ask HMRC to transfer what’s left of their Blind Person’s Allowance for the current tax year (up to 5 April) to you.

If you’re a widow and you were married before April 1977, you might be paying a reduced rate of National Insurance (sometimes called the ‘small stamp’).

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