employment pension contrns

This topic has 2 replies, 2 voices, and was last updated 5 years ago by szogun.

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September 3, 2020 at 5:02 am #583188
agnes222
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employee’s contrn into occ. pension=12000
employer’s contrn into personal(or occupational shouldn’t matter) pension=20000
taxable employment income=160000

Annual allowance= 19000(high income individual)

will there be an annual allowance charge on amount of 12000+20000-19000=13000?
or no annual allowance charge as employee gross contrn(12000) less than maximum available annual allowance(19000)?

Any help would be much appreciated!
September 3, 2020 at 6:00 am #583196
agnes222
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I think there will be an annual allowance charge. But please somebody confirm that!

And also if you could mention whether employer’s contrns into an individual’s personal pension scheme lead to the individual’s Basic rate band getting extended?
September 3, 2020 at 6:34 pm #583297
szogun
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heya,

Yes there will be charge on £13,000 at the higher rate .

“And also if you could mention whether employer’s contrns into an individual’s personal pension scheme lead to the individual’s Basic rate band getting extended?” I would say no.
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