Pension carry forward.

[cojak]

Wrong forum. Try again in Accounting/Legal.

[Hareforthebear]

And how did this go. Did you get away with your little wheeze?

Meanwhile I’m in trouble for using a regulated accountant and paying all my tax on time.. This guy is topping up all his family member’s pension pots. Oh sorry, I meant to say employees. Unreal.

[northernladuk]

Hi all,
Received a letter from Pension regulator. Me and my spouse are both Directors of the company and recently added a member as an employee at minimum wages but without any employment contract. I called pension regulator phone line and lady was repeatedly asking whether there is any employment contract being done with new employee. She said I don't need to register if there is no employment contract. Is it correct? Can you please share your knowledge on this subject.

And how did this go. Did you get away with your little wheeze?

[northernladuk]

OP. You do realise you have posted this in completely the wrong section don't you?

[Protagoras]

Dates are tax year based, so do depend on the contribution dates.

Try the calculator at https://www.hl.co.uk/pensions/contri...nce-calculator

You would also need to have had an eligible pension scheme open in the tax year to April ‘20.

[northernladuk]

What does your accountant advise?

Actually, there is another option before you do that. You could do some research yourself?

Something like go read the Gov webpage on pension tax.

This one for example.
https://www.gov.uk/tax-on-your-private-pension

Now you'll learn something here. You are talking about tax. Tax year has sod all to do with with your accounting year. Useful this reasearch thing innit. So that makes the year figures you posted useless as 2020 is in two tax years so now you have to go rethink that. Which TAX year did you put it in. So reading on..

Oh look, they have a page for annual allowance. That's interesting.
https://www.gov.uk/tax-on-your-priva...nual-allowance

Well blow me down with a feather, they've got a section on not using allowance.

If you use all of your annual allowance for the current tax year


You might be able to carry over any annual allowance you did not use from the previous 3 tax years.

Let's clickity click the little linky...

Ohh this looks very useful (seems it's a whole page on exactly your question)
https://www.gov.uk/guidance/check-if...ension-savings

ZOMG WTF FMS Jimine Cricket Gadzooks. There is a calculator! And it even makes it very clear it's got to be in a tax year.

Fill yer boots.

Astounding stuff. What a wonderful thing this google and a bit of effort is.

[sammy2020]

Hi,
Can you please help me. I started a limited company in Dec 2019 but actual work (earning) started only in Jan 2020. Already invested £40k (employer's contribution) each for 2020, 2021, 2022. Can I invest £40k for 2019 now though there was no earning in 2019. My accounting year is from Jan to Dec. Thank you.