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gov.uk pension annual allowance calculator correct?
YellowSock
Posts: 34 Forumite
I am wondering if the governments annual pension allowance calculator https://www.tax.service.gov.uk/paac is correct.
It says for 2017/18 I have an available annual allowance of 80,000. I paid in 17,074 so far and the unused annual allowance is shown as 22,926.
I might be wrong but should the unused annual allowance not be the annual allowance (incl. unused carried for allowances from last 3 years) (apparently 80,000 in my case) minus pension savings (17,074) ? So that's 80,000 - 17,074 = 62,926 ?
Or to ask differently: should I not be allowed to pay in 80,000 in total this tax year (IF I would earn that much)?
Thank you for your help!


It says for 2017/18 I have an available annual allowance of 80,000. I paid in 17,074 so far and the unused annual allowance is shown as 22,926.
I might be wrong but should the unused annual allowance not be the annual allowance (incl. unused carried for allowances from last 3 years) (apparently 80,000 in my case) minus pension savings (17,074) ? So that's 80,000 - 17,074 = 62,926 ?
Or to ask differently: should I not be allowed to pay in 80,000 in total this tax year (IF I would earn that much)?
Thank you for your help!

0
Comments
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The output's a bit confusing, see this thread: https://forums.moneysavingexpert.com/discussion/comment/73383021#Comment_733830210
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No. You can only carry forward £40000 from 2015/16 . It's very complex but is based on the pre and post alignment split year0
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Thanks zagfles. So the maximum amount that I could still pay into my pension 2017/18 is £62,926 - if I would have enough earnings. That's also the result of http://www.hl.co.uk/pensions/interactive-calculators/carry-forward-annual-allowance-calculator.0
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