JohnTom

Hello again. I am not seeking financial advice and therefore do not require a financial advisor. I am asking if it is acceptable according to current inland revenue rules for me to use carry forward of unused relief to make contributions for previous years and have them treated as being eligible for tax relief i.e. they will be grossed up. Please could you confirm whether inland revenue rulings allow this?

Thank you for your reply. Please can you confirm that if I make a carry forward contribution of £33,768 as a net payment covering 2020/21 to 2023/24 that it will be grossed up £42,210 by my personal pension provider reclaiming £8,442 from HMRC? I need to be very clear whether this payment will qualify for tax relief before I cash in premium bonds to cover the amount.

Hello, I just wanted to check some calculations I have made regarding carry forward. My taxable income for years from 2020/21 onwards are: - 2020/21 £12,014 2021/22 £11,313 2022/23 £11,310 2023/24 £7,573 2024/25 Nil as retired I have been a member of a personal pension in each of these years but made no contributions. My understanding is that I can carry forward contributions for each year to the total of the income earned as it is so low. That figure in this tax year would be £42,210 gross (£33,768 net). I also understand that I could contribute £19,587 from 2020/21 & 2023/24 in the 2023/24 tax year and then contribute in 2024/25 a total of £26,223 for the tax years 2021/22, 2022/23 and 2024/25. I understand that I am able to contribute £3,600 gross in 2024/25 even though I have no taxable income. Are my assumptions correct? Thank you.