Pension withdrawal tax calculator
Andy_Schleider
Member
Hi - I'm looking for a pension withdrawal emergency tax calculator and a few of the providers have one, however they assume that 25% will be tax free. That's all very well, but not helpful when the PCLS has already been taken
I'm trying to build a calculator instead but was wondering whether anyone else has one they would be willing to share (I'm getting a bit tied up in knots with the formulae in excel!)
Comments
Have you looked at the Hargreaves Lansdown one? I'm sure from memory that theirs allowed you to factor in TFC already taken.
Hargreaves Lansdown to the rescue
https://www.hl.co.uk/retirement/preparing/tax-matters/emergency-calculator
Thanks guys (it also matches my excel calculator, which is a bonus!)
https://www.thecalculatorsite.com/finance/calculators/compoundinterestcalculator.php
This is compound interest calculator in reverse, with withdrawals and assumed growth rate (after all charges). Gives a rough indication, however for more accuracy use Voyant, which allows a replication of previous stockmarket woes and what impact this has on the fund. Great for What If scenarios
Thanks Shuggy. However we don't use Voyant; I had a free trial but couldn't get on with it so remained with Cashcalc, who can also stress test portfolios
Also try https://invidion.uk/ they have a FAD Tax calculator with a bit more flexibility than the HL one. Plus other very useful calculators.
Andy, I've done excel calculator myself a few years ago and you can input TFC (if needed) and client's income as well. Happy to share. Please let me know your email address and I'll email
Thanks, Anna
Hi, I realise you've already sorted this but in case anyone else is looking for this info, the cash calc one has a crystallised tick box. Don't know how long it's been there.