Tax implications for auto-entrepreneur taking a UK pension?
My wife and I each have an auto-entrepreneur business, she as bed and breakfast and I am profession liberale. Our earnings last year were 17,000 euros and 31,000 euros respectively. This year we anticipate it will be nearer to 18,000 euros and 25,000 euros respectively.
Next month I can take my UK teacher’s Pension - at age 60. It is taxed in the UK, at source, as it is a government pension. All except the lump sum which is tax free in the UK. The pension would be 11,500 UK pounds per year and the lump sum 35,000 UK pounds. What are the tax implications of taking the pension - I could delay taking it, I don’t have to take it now, but obviously it is not going to grow in any way through deferring it (other than rising in parallel with inflation). Can you clarify how I would have to pay the tax on the lump sum if I do take it? If this is not the right place to ask such questions can you advise me on where to look?