pension carry back

strongboes

Is someone able to clarify the following for me. More in hope I think as seems unlikely.

No pension contributions made in the last few years. Salary this year 65k, so i'm thinking to contribute 15k.

Salary last year 65k, year before 78k, year before 104k. I'm right in thinking I can carry claim allowance for 3 years?

My main question is, can I claim only the hrt relief on the 65 and 78? Or do I need to contribute 40k this year, which then allows me to claim for last year etc?

If I can just claim the 40% relief then that would clearly be a good idea.

Or is this a non starter at all as I wasn't paying into any pension at all?

I do have an old pension not paid into for 15 years or so for which I receive annual statements.

NoMore

You have to contribute the full 40k from this year before you start using carry forward and then you start with the earliest year.


You can only claim 40% higher tax relief on this years salary, using carry forward only allows you to contribute up to this years salary (65k).

strongboes

Am I excluded from using carry forward because I wasn't paying into a scheme? Or does simply having an existing pension from years ago count?

NoMore

I believe you have to have paid into a scheme, but not sure.

xylophone

Handy Fact Sheet here

https://www.hl.co.uk/pensions/contributions/carry-forward-rule/annual-allowance-calculator

ffacoffipawb

NoMore wrote: »

I believe you have to have paid into a scheme, but not sure.

No, just need to have been a member or have held a personal pension in those years, I think. Contributing not necessary.