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Pension Carry Forward Advice
Comments
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Annual Allowance is £40k or your relevant UK earnings which ever is less.
As the salary is only £7.5k, the the annual allowance applicable is £7.5k which includes all contributions (Employees/Employers/Tax Relief)
Err no. The earnings limit, 7.5K in this case, does not restrict employers contributions, just personal contributions. The employer contribution is constrained by the £40K total limit.0 -
Nope. There are two different limits. Often you can combine them to get the correct answer but not where employer contributions are involved because the employer contributions don't count against the earned income limit.Annual Allowance is £40k or your relevant UK earnings which ever is less.
As the salary is only £7.5k, the the annual allowance applicable is £7.5k which includes all contributions (Employees/Employers/Tax Relief)0 -
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Thanks for all replies and humour!, much appreciated.0
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