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Posted Tue, 10 Dec 2024 15:17:31 GMT by ade
Hi HMRC This tax year (24/25), I topped up my workplace pension by £25k by using my carry forward allowance from previous tax years 21-22,22-23,23-24. In November, I resigned from my job. My question is: Can I top up my pension for this tax year (24/25) now OR, do I have to wait until the new tax year from April 2025 and do it then? My salary earned to date for this tax year is: £9,827. My annual salary was: £13,899.96 My total pension contributions (mine plus employer) for this tax year was: £1,373 Looking at my pension statement, for 24-25 however, it is showing my pension contributions as being £25.5 k with a tax relief of £6.3k. I advised my pension co in writing this was a top up/carry forward from the previous tax years, although on my pension statement, it is not showing this but instead is grouping my carry forward for this tax years figures. Hope this makes sense. Thank you in advance
Posted Wed, 18 Dec 2024 13:28:34 GMT by HMRC Admin 19 Response
Hi,
Tax relief for pension payments is the lower of your earned income for the year or £60,000. If your earned income for 2024 to 2025 is £9,827, that will be the maximum you can pay into your pension tax free.  
You can pay as much as you want into your pension, but anything above the tax free threshold is taxable, as a pension savings tax charge. This pension savings tax charge is declared in SA101 of a Self Assessment tax return.
Thank you..
Posted Fri, 20 Dec 2024 05:18:41 GMT by BellaBoo
Hi, not an Admin but just to add you can only use carry forward if you have used your full allowance for the current year. So you would need to make contributions exceeding £60,000 in order to use the previous years unused allowance. https://www.gov.uk/hmrc-internal-manuals/pensions-tax-manual/ptm055100#usedup

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