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Posted 7 months ago by El Padre
I am due to receive 90K redundancy and I want my employer to pay 60K into my pension. Earnings this year to redundancy date are 40K. 2 questions, does the 60K redundancy count towards my earnings this year as it is taxable as income or can I only pay in 40K tax free? And how does pension tax carry forward actually work, does it happen automatically?
Posted 6 months ago by HMRC Admin 19 Response
Hi,
Please refer to the following guidance under the section "Earnings that attract tax relief":
PTM044100 - Contributions: tax relief for members: conditions
Thank you.
Posted 29 days ago by Retiring
Can I take a tax free lump sum from my pension in the same tax year as I receive a tax free redundancy payment?
Posted 26 days ago by HMRC Admin 21 Response
Hi Retiring,
The answer to your question is yes.
Thank you.
 

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