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Pension Annual Allowance elements

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Pension Annual Allowance elements

  • This topic has 1 reply, 2 voices, and was last updated 4 years ago by Tax Tutor.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • May 6, 2021 at 12:39 am #619795
    sardonis
    Participant
    • Topics: 7
    • Replies: 2
    • ☆

    Thank you for answering my previous questions.
    As far as I understand the topic, you count towards AA any of the following:
    1. Employee’s occupational pension contribution, plus
    2. Employer’s occupational pension contribution, plus
    3. Employee’s personal pension contribution (grossed up), plus
    4. Employer’s personal pension contribution (grossed up ?), if any.

    Again, I appreciate that somebody makes an effort to answer students’ questions. I find it a bit surprising that I can find so professionally prepared materials and tutors offering their knowledge and time completely free. The most surprising fact is probably this that so few people from our student community know about it or maybe I am wrong on the last one.

    May 9, 2021 at 9:37 am #620128
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    In the case of personal pension contributions – it applies not just to employees who aren’t members of an occupational pension scheme but also to the self employed.
    If an individual pays into a personal pension scheme the amount paid must be grossed up – employers contributions into such a scheme are already gross

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