Carrying forward unused allowance
Options
Ed-1
Posts: 3,906 Forumite
The maximum a non-earner can contribute to a pension is £3,600 gross (£2,880 net).
If this allowance has not been used up in any of the previous 3 years, is it possible to put in 3 x £2,880 = £8,640 net this year?
Or does carry forward only apply to the maximum £40,000 annual allowance and only if you had a pension in the previous 3 years?
If this allowance has not been used up in any of the previous 3 years, is it possible to put in 3 x £2,880 = £8,640 net this year?
Or does carry forward only apply to the maximum £40,000 annual allowance and only if you had a pension in the previous 3 years?
0
Comments
-
I'm afraid not. Only annual allowance (£40k pa) gets carried forward. Any limits to do with earned income (or the lack of it) are specific to the year in question.0
This discussion has been closed.
Categories
- All Categories
- 343.6K Banking & Borrowing
- 250.2K Reduce Debt & Boost Income
- 449.9K Spending & Discounts
- 235.8K Work, Benefits & Business
- 608.8K Mortgages, Homes & Bills
- 173.3K Life & Family
- 248.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.9K Discuss & Feedback
- 15.1K Coronavirus Support Boards