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Tapered Annual Allowance
mat5664
Posts: 166 Forumite
I have a question regarding the reduction in Pension Contributions where threshold income is above £110k and adjusted income over £150k.
The rules say that salary sacrifice arrangements made prior to July 2015 do not have to be included in the threshold income figure.
Does this mean that if you have increased your SS element after July 2015, you get caught by this, even if the arrangement was in place prior to July 2015?
The rules say that salary sacrifice arrangements made prior to July 2015 do not have to be included in the threshold income figure.
Does this mean that if you have increased your SS element after July 2015, you get caught by this, even if the arrangement was in place prior to July 2015?
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I have a question regarding the reduction in Pension Contributions where threshold income is above £110k and adjusted income over £150k.
The rules say that salary sacrifice arrangements made prior to July 2015 do not have to be included in the threshold income figure.
Does this mean that if you have increased your SS element after July 2015, you get caught by this, even if the arrangement was in place prior to July 2015?
Only the increase is included in the threshold calculation.
See page 1 of link below;
https://www.scottishwidows.co.uk/Extranet/Literature/Doc/FP0639
Also example on page 3 below;
https://www.pruadviser.co.uk/pdf/GENM675401.pdfI am an Independent Financial Adviser. Any comments I make here are intended for information / discussion only. Nothing I post here should be construed as advice. If you are looking for individual financial advice, please contact a local Independent Financial Adviser.0
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