`Carry forward` contributions from previous 3 tax years

bowlhead99

milton1970 said:

For clarify - my understanding is that you utilise the current year allowance first before looking at any prior year c/fwd allowances available.

Yes - you don't need to (and can't) use any brought-forward allowance if you have available current year allowance. This means that if you do less than your current year allowance, you can't choose to use an old unused allowance instead of the current one - the old ones will just gradually roll off the 'last three years' clock without being used.  

Upper Limit is in year relevant earnings & lower limit is £3600 

yep

milton1970

Thanks @bowlhead99

Joey2013

Hi,
Thank You all for your contributions. I have a follow-up question and would appreciate your responses.
I am in the process of transferring my sipp from hl to ii. I have already contributed £200 gross to the hl sipp to cover charges. Can I contribute the remaining £3,400 gross to the ii sipp or does it have to go into the hl sipp. Am I only allowed to contribute to one sipp in a tax year or can I contribute to more than one sipp in the same tax year.
Kind Regards

bowlhead99

Joey2013 said:

I am in the process of transferring my sipp from hl to ii. I have already contributed £200 gross to the hl sipp to cover charges. Can I contribute the remaining £3,400 gross to the ii sipp or does it have to go into the hl sipp. Am I only allowed to contribute to one sipp in a tax year or can I contribute to more than one sipp in the same tax year.
Kind Regards

You can contribute to as many pensions as you like in a tax year, as long as you don't go over the overall limit.

Joey2013

Thanks  bowlhead99

aroominyork

Albermarle said:

OK but it is a bit theoretical as she has no earnings this tax year .So  max she can contribute is £2880 anyway as a non earner.

Yes, but it's a little unclear whether the OP is talking about c/f unused allowance to use this tax year, or c/f to future years. The first point was answered with regard to OP's earnings this year; I was clearing up the second point.

jjmilton1970 said:

For clarify - my understanding is that you utilise the current year allowance first before looking at any prior year c/fwd allowances available.

Upper Limit is in year relevant earnings & lower limit is £3600 

correct ?

Yes, you must use up your £40k from the current year before you can dip into the last three years (and then you use the oldest year first, ie this year it would be using 2017-18 first).