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Annual allowance

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Annual allowance

  • This topic has 1 reply, 2 voices, and was last updated 2 years ago by Tax Tutor.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • August 10, 2022 at 5:43 am #662793
    advus
    Participant
    • Topics: 20
    • Replies: 19
    • ☆

    Dear tutor:
    Ted is a sole trader. His gross contributions to his personal pension scheme have been as follows:
    2018/19 £16,000
    2019/20 £36,000
    2020/21 £25,000
    In 2021/22, Ted will have taxable trading profits of about £100,000 and wishes to make a large pension contribution in January 2022. He has no other sources of income.
    Required
    1 What is the maximum gross tax relievable pension contribution Ted can make in January
    2022, taking into consideration any brought forward annual allowance?
    2If Ted makes a gross personal pension contribution of £43,000 in January 2022, what are the unused annual allowances he could carry forward to 2022/23?

    I want to ask that how to calculate the second question?Thank you!

    August 12, 2022 at 3:24 pm #662965
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    What do you not understand about that answer?

  • Author
    Posts
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