Employer pension limit

[Scrag Meister]

Planning to pay a big employer contribution into my pension.

Is the limit still 50k pa?

Or when does the 40k limit come in?

Edit : Before NLUK abuses me textually that is, I checked and the 40k limit comes in at the end of this tax year.

[Clare@InTouch]

£40k comes in from the start of the new tax year, so just bear in mind any other contributions and the lifetime allowance.

[Fred Bloggs]

Allowance is £50k until April the 5th. Drops to £40k April 6th onwards. HTH.

[Craig at Nixon Williams]

Just a quick addition to the above:

The annual allowance is per pension input period, which isn't necessarily aligned to the tax year.

The £40k limit will kick in for the input period ending in the 2014/15 tax year.

Hope this helps!
Craig

[S Hudson]

Allowance is £50k until April the 5th. Drops to £40k April 6th onwards. HTH.

Don't forget if you can utilise 'carry forward' rules to use previous years unused allowances.

[DirtyDog]

Don't forget if you can utilise 'carry forward' rules to use previous years unused allowances.

As long as the scheme was in operation in those years.

[Fred Bloggs]

Don't forget if you can utilise 'carry forward' rules to use previous years unused allowances.

Yes, and I have done so this year.