Pension savings annual allowance calculators
13 May 2014
This calculator now provides a standard and enhanced version. The new standard calculator is for customers who have not previously needed to consider the use of carry forward for any of the previous three tax years.
From 6 April 2014 the annual allowance for tax relief on pension savings in a registered pension scheme was reduced to £40,000. This includes contributions made by anyone else into your pension such as your employer. If your pension savings exceed this amount you'll have to pay a tax charge and give details of this on a Self Assessment tax return.
The rules allow you to carry forward any unused annual allowance from the 3 previous tax years to offset this charge
Follow the link below for full details.