Pension Contributions

I have unused pension contributions of £100k that I can use in 2022/23. My earnings are higher than this so I can make this £100k contribution this year. When I do my self assesment I won’t automatically be charged/taxed because the contribution i enter on the SA form is above the £40k annual allowance (in this case it will be £100k)? Thanks

Hi Billybob112,

This depends on your actual level of income as you may only be entitled to tapered allowance :

Work out your reduced (tapered) annual allowance

Thank you. 
 

Thank you My total income in any tax year has been and will be well below £200,000 which I interpret as meaning no reduction in my AA - is that correct?

Hi,
 

Guidance on how to work out your 'threshold' income can be found at : Pensions Tax Manual   .   A fully worked example of threshold income can be found at : PTM057200 - Annual allowance: tapered annual allowance: example of how to calculate threshold income, adjusted income and the tapered AA   . The default threshold for individual is £40000.00 per annum, provided the earnings threshold of £200000.00 is not breachded and no withdrawals from the Pension scheme have ocurred .  Thank you.