First time doing the £2880 question

trevjl

I was about to add the £2880 to my pension.

I retired Sept 24 and have had no taxable income since. I have taken my personal allowance from my drawdown fund this tax year (still have an accumulation fund there too). I have not taken anything else from the drawdown, only the tax free.

I know that adding the sum can only be done in the tax year and not backdated, but I believe (and I may be completely wrong) that I can add more if I had not used the full allowance from the previous tax year that I paid tax ie 24-25.

If that is correct (if not call me names and ignore me !!!) what can I add ? I earnt £20,500 taxable income in the partial year before I retired and the gross pension contribution was £5950.

molerat

You need sufficient relevant income this year before you can use previous year's allowances so it is a non starter.

Marcon

....and that income has to be relevant earnings, with emphasis on the word earnings!