Mike Bees

I have a follow-up question. If I crystallise my pension part way through the tax year, how does the Money Purchase Annual Allowance limit of £4000 get applied - is it pro-rata from the point at which crystallisation occurs? For example, prior to crystallisation I'm contributing £1000 a month. 6 months into the tax year I crystallise the pension and reduce my contributions. Is the limit for the remaining 6 months still £4000 or is it £2000 (half of the year)?

Thankyou, that is most helpful

I’m completing my tax return for 2023/2024. During that tax year I had a company car for the first 9 months only. In declaring this do I pro-rata the vehicle’s annual BIK value and put that down as the taxable benefit?

I’m aware that if I crystallise a pension fund the annual limit on contributions reduces to £4000. Is that the sum total of contributions allowed across all of my pension funds (e.g. if I have 2 separate funds and crystallise one of them)?