Taxation Rates aged 60 -65

[Daddy]

Hi,

Just wondering if I retire as a PAYE worker at age 63 and draw an annuity then how much under current legislation would I be entitled to tax free up until age 65. Married and my wife also a PAYE worker would be 60 on retiring and same query applies here. Also, if I pay DIRT on any savings I assume that no further tax is liable and the interest after DIRT does not form part of earnings.

I know when we hit 65 allowed earn 36k between us before getting hit for tax.


Thanks

 

[Gervan]

You will get the 1650 personal tax credit and up to 1650 Paye credit to use against the annuity income.
As you say, no further tax on deposit income.

 

[Daddy]

Thanks Gervan