• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
  • Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

You are not logged in or you do not have permission to access this page. This could be due to one of several reasons:

  • You are not logged in. If you are already registered, fill in the form below to log in, or follow the "Sign Up" link to register a new account.
  • You may not have sufficient privileges to access this page. Are you trying to edit someone else's post, access administrative features or some other privileged system?
  • If you are trying to post, the administrator may have disabled your account, or it may be awaiting activation.

Previously on "Does the £40k annual pensions contributions limit apply to post-tax contributions ?"

Collapse

  • Lance
    replied
    Originally posted by mangled View Post
    Leaving aside the reasons for doing it,
    because you know it's a stupid thing to do anyway?

    Originally posted by mangled View Post
    can anyone tell me whether if I pay in money to a pension scheme from, eg an inheritance, where the sum was more than the normal annual £40k allowance I would be charged tax on it ? Is that even possible ?
    You won't get taxed on anything put in over the limit (the limit being 100% of your salary or £40,000 (whichever is lower)). You just won't get tax relief. Pretty basic that. So just put the rest in an ISA.



    Originally posted by mangled View Post
    Also, can anyone give me the calculation workings for tax on contributions over the £40k limit ?
    yeah. No tax relief. 0%. Zip. Nada.



    Originally posted by mangled View Post
    (I'm aware of the 3 years backdating, btw, but would like to ignore that aspect for now.)
    Why are you ignoring all the important things (like "reasons", and "the limit")?
    Mind you with such a lack of the basics something so complex as that would be problematic.
    Get an IFA

    Leave a comment:


  • northernladuk
    replied
    Your accountant can.

    Leave a comment:


  • Does the £40k annual pensions contributions limit apply to post-tax contributions ?

    Leaving aside the reasons for doing it, can anyone tell me whether if I pay in money to a pension scheme from, eg an inheritance, where the sum was more than the normal annual £40k allowance I would be charged tax on it ? Is that even possible ?

    Also, can anyone give me the calculation workings for tax on contributions over the £40k limit ?

    (I'm aware of the 3 years backdating, btw, but would like to ignore that aspect for now.)

    Thanks,

Working...
X