My post count is Majestic
northernladuk is a fount of knowledge
Do you have the money still sitting in your company and do you have a pension scheme already set up?
Quote from a source on the web..
Can you not use the carry forward and just dump a very large amount in this year to keep it nice and clean?
There is also an 'annual allowance' which limits the annual tax relief which an individual may receive on pension contributions and other increases in a person's pension rights. More can be contributed but the tax exemption on the excess will be recovered. The annual allowance for 2010-11 was £255,000 but this has been reduced to £50,000 for 2011-12. Individuals who have been a member of a registered pension scheme and who have unused annual allowance from the previous three tax years can carry that allowance forward, meaning they may not have to pay the annual allowance charge.
'CUK forum personality of 2011' - Winner - Yes really!!!!