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mpaa
igg59
Posts: 23 Forumite
hi all,if you trigger the mpaa,is it only for the tax year that you have broken the rulethat you are liable for.
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Comments
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Once triggered, you are restricted to the reduced annual allowance for life. Therefore, if you will have higher contributions than the limit, its unwise to trigger MPAA.Not an expert, but like pensions, tax questions and giving guidance. There is no substitute for tailored financial advice.0
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If you trigger the MPAA then your future contributions will permanantly be restricted to the MPAA.I 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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https://www.aegon.co.uk/support/faq/pension-technical/MPAA.htmlIn the first tax year that the MPAA applies, it is only contributions paid to money purchase arrangements after the date of the first trigger event that are measured against the MPAA. For subsequent tax years, all contributions made to money purchase arrangements in a tax year will count towards the MPAA.Conjugating the verb 'to be":
-o I am humble -o You are attention seeking -o She is Nadine Dorries0
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