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Does the 40,000 Annual Allowance apply to ALL pension contributions in the tax year, or just occupational pension schemes?
Many thanks
Upon all … 40000 is a aggregate amount available for a tax year that subject to a relief …
It applies to all but remember that personal pension contributions need to be grossed up at 100/80 and do not get deducted on the face of the income tax computation but the gross amounts get deducted in deriving adjusted net income for purposes of determining any restriction in the PA and will also extend the basic and higher rate bands
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