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Hi Tax Tutor,
With reference to practise Q20 GEORGE, part b, 2016/17 personal pension contribution of 90000 is reduced by tapered 2016/17 AA of 30000 and 30000 b/f unused AA of 2015/16.
I am confused by the AA b/f of 30000. In 2015/16, income is 170000, the AA needs to be tapered by (170000-150000/2) to 30000, he made a 10000 personal pension contribution, unused AA b/f should be 30000-10000=20000 instead of 30000?
Appreciate your advice.
Thanks.
If you refer to p.70 of the course notes you will see that this topic is introduced with the statement “For the tax year 2016/17 onwards ………”, hence no tapering for 2015/16
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