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Posted Sun, 23 Jun 2024 12:37:47 GMT by SaSa
If my pension savings are more than your annual allowance, I can carry forward unused annual allowances from previous years. I have move to UK and start working since August -2022 using the BNO VISA and the Annual allowance for 2022/2023 is £40,00. In my case will I have the annual allowance in pro rata or £40,000? Thanks.
Posted Thu, 27 Jun 2024 08:57:24 GMT by HMRC Admin 25 Response
Hi SaSa,
The annual allowance for 22/23 is £40000 or your taxable earned income, whichever is lower.
You do not need to pro rata this allowance, if you arrived in the UK part of the way through a tax year.
You can carry forward the unused element of your annual allowance from the 3 previous tax years and add it to your current annual allowance.
Have a look at the guidance here:
Standard individual lump sum allowance
Thank you. 

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