EPN 09/2018 - Annual Allowance further information and worked examples

Date published: 09 March 2018

Background

You were issued with a previous employee pension notice in September 2017 which provided information on Annual Allowance, Scheme Pays and Pension Taxation. To recap, the Annual Allowance is set by HM Revenue & Customs and is the maximum amount of pension savings you can make in any one year that benefits from tax relief. If the growth in your pension savings in any one year is more than the Annual Allowance, you may be liable to pay tax on the amount that is over the allowance.

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