Carry forward ?

Microbe65

The statements have finally arrived for 1995/2015 schemes, which was useful as the PIA totals varied considerably:
2016/17 - £19,626 (AA £40k)
2015/16 - £49,716 (AA £80k)
2014/15 - £8,267 (AA £40k)
So, I have plenty of Carry Forward and are limited only by this years earnings.
My estimated gross income (2017/18) is £51k and so NHS pension contributions (12.5%) of £6375, leaving an estimated taxable income of £44,625.
So I does this mean I can make gross SIPP contributions of £44,625 (which seems remarkably generous) or am I missing something?

AlanP_2

Microbe65 wrote: »

The statements have finally arrived for 1995/2015 schemes, which was useful as the PIA totals varied considerably:
2016/17 - £19,626 (AA £40k)
2015/16 - £49,716 (AA £80k)
2014/15 - £8,267 (AA £40k)
So, I have plenty of Carry Forward and are limited only by this years earnings.
My estimated gross income (2017/18) is £51k and so NHS pension contributions (12.5%) of £6375, leaving an estimated taxable income of £44,625.
So I does this mean I can make gross SIPP contributions of £44,625 (which seems remarkably generous) or am I missing something?

Based on those numbers it looks like you can, but needs doing in next 6 weeks or so.

zagfles

Microbe65 wrote: »

The statements have finally arrived for 1995/2015 schemes, which was useful as the PIA totals varied considerably:
2016/17 - £19,626 (AA £40k)
2015/16 - £49,716 (AA £80k)
2014/15 - £8,267 (AA £40k)
So, I have plenty of Carry Forward and are limited only by this years earnings.
My estimated gross income (2017/18) is £51k and so NHS pension contributions (12.5%) of £6375, leaving an estimated taxable income of £44,625.
So I does this mean I can make gross SIPP contributions of £44,625 (which seems remarkably generous) or am I missing something?

The 2015/16 amounts should have been split into 2 parts, up to 8 July and 9 July onwards (the PIPs were aligned with the tax year in the July 2015 budget).

The AA for the first part is £80k and up to £40k of it can be carried to the second part or to future years.

Based on above this probably won't affect the amount you can put in this year as you probably still have enough carry-forwards, but if you want to carry forwards to future years it might.

HL have a useful calculator:

http://www.hl.co.uk/pensions/interactive-calculators/carry-forward-annual-allowance-calculator

Microbe65

The 2015/16 amounts should have been split into 2 parts, up to 8 July and 9 July onwards (the PIPs were aligned with the tax year in the July 2015 budget).

The AA for the first part is £80k and up to £40k of it can be carried to the second part or to future years

The 2015/16 values were £13,264 (pre) and £36,452 (post).
I'll try the calculator, many thanks