Annual Allowance

jamesd

The allowances remaining are the acutal amounts based on the allowance in effect for the year concerned. So in a year with £50,000 allowance the amount that can be carried forward is £50,000 minus contribution value, even if you're transferring to a year with £40,000 allowance. So £42,000 in the £50,000 year leaves you £8,000 to carry forward.

But it's best to use the HMRC calculator.

Sorting out the pension input periods can sometimes be a bit fiddly if there's more than one pension scheme.

AlwaysLearnin

Could this change with the allowance reduction though?

From this link I took it that when it reduced to £50k p/y, that limit was also applied to preceding years for carrying forward purposes:

http://www.hmrc.gov.uk/manuals/rpsmmanual/rpsm06108030.htm

I haven't seen anything to say this will follow with the changes next year, but that's not to say it won't I guess...?