However, you will almost certainly have to pay tax on your monthly pension.

Your pension will be taxed on the emergency tax code of 647L until your local tax office tells us the correct rate to use.

Your tax office might need to write to you about your income before deciding the correct rate. We can't refund tax, or make any other adjustments, until your tax office confirms the rate we should use. So if you are expecting a refund it may take a little while.

If you want to know more about the tax you will pay, get in touch with your tax office.

The tax office that will deal with your tax affairs is:

HM Revenue & Customs West Yorkshire and Craven District

Centenary Court
1 St Blaise Way
Bradford
BD1 4YL.

Phone: 0845 302 1432

Your tax reference is 072/W6.

Please quote this reference whenever you contact the tax office. You can get leaflets about tax from your local tax office or from the HM Revenue & Customs website (www.hmrc.gov.uk).

If you think you underpaid tax because HMRC (the tax office) made a mistake, you can ask them to consider writing off some or all of the tax you underpaid.

They will only consider writing off underpaid tax if:

• You checked your tax code when it was issued and had no reason to think it was wrong, and


• HMRC must have delayed using available information (HMRC defines a delay as being more than 12 months from the end of the tax year when it should have discovered the error.)

As you will be aware WYPF issue a P60 each tax year to all of our pensioners who are receipt of taxable income. We post this to you around May of each year. We also send direct to HMRC details of the amount of taxable pension you have been paid, the amount of tax deducted and the tax code operated against your pension at each tax year end. We will have issued this information from the tax year when you first commenced receiving your pension.

If you think tax was underpaid because of a mistake by HMRC, then you can ask HMRC to consider writing off some or all of the tax. It must have been reasonable for you to have thought that your tax code was correct - this means that you should have checked your tax code when it was issued. In addition, HMRC must have delayed in using information available to it. HMRC considers a delay of 12 months from the end of the tax year in which it should have been aware of the error to be reasonable.

Look at the following websites for further help:

HM Revenue & Customs > delays in using information

http://www.hmrc.gov.uk/esc/esc.htm

Tax aid

http://taxaid.org.uk