I am just coming up to my 22 year point and am on termination leave. I am now in the process of going through an umbrella company for a contract i have been offered. He wants my P45, I wont get it till I leave fully.

Does anyone know what code will be on the P45?

Is the immediate pension taxed at source at 20% for the whole lot or is my tax allowance included?

You won't get the P45 until you leave (and even then probably not for a while afterwards) as you said. If you have a copy of your last pay statement that should have your tax code on it, or if you haven't changed pay significantly from your previous years pay then your P60 from last year will hvae similar information.

The worst that will happen is that they put you on an 'emergency tax code' (I think that's what it was called) until they work out your proper tax code, in theory it should all get sorted over the period of the tax year or if you do your own then sort it out then.

You can complete a P46 your tax allowance will be on your pension so your wages will be on a BR tax code which is basic tax with no allowances not sure 22or 23 %.
BR is currently 20%!

You will need to check when you start receiving your pension that your tax code is only applied to either your pay or your pension. Check your current pay statement for your tax code - normally 647 this tax year unless you have any adjustments to it (repaying from previous years etc) best to ask your employer to tax you as BR until you are discharged as you would have to repay in the long run.

It is also a good idea the write to your new tax office and to PD2 (your pension tax office) to tell them you are now in receipt of two incomes. You may need to be careful to check that your new income + pension do not take into the higher tax bracket. If this is likely to happen it is a good idea to request a lower tax allce for your new income so that you do not get a big tax demand at the the end of the FY.
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