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Chapter 9 Pensions Example 1

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Chapter 9 Pensions Example 1

  • This topic has 3 replies, 2 voices, and was last updated 1 year ago by JillyB.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • May 9, 2024 at 10:44 am #705140
    Jfleming120
    Participant
    • Topics: 2
    • Replies: 1
    • ☆

    Hi,
    The example
    Aston made the following gross amount of contributions into his pension scheme in earlier tax years:
    2021/22 £62,000
    2022/23 £30,000
    2023/24 £25,000
    Aston has an annual salary of £120,000.
    The answer in the lecture is

    AA for 2324 40,000
    Any unused 21/22 0
    Any unused 22/23 10,000
    Any unused 23/24 15,000
    Total 65,000

    Would the answer not be £50,000? As the AA for 23/24 would be £40,000 and the £10,000 b/fwd from 22/23. Wouldn’t the £15,000 for 23/24 be a double count?

    May 9, 2024 at 3:45 pm #705160
    JillyB
    Keymaster
    • Topics: 0
    • Replies: 899
    • ☆☆☆☆

    you are right – sorry for the error

    May 17, 2024 at 12:26 pm #705560
    Jfleming120
    Participant
    • Topics: 2
    • Replies: 1
    • ☆

    No need to apologise thank you for the lectures and notes they’re really helpful 🙂 Thanks for also replying

    May 19, 2024 at 10:27 am #705666
    JillyB
    Keymaster
    • Topics: 0
    • Replies: 899
    • ☆☆☆☆

    No worries – all the best with your exams

  • Author
    Posts
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