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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Pension
My doubt is how we calculate unused annual allowance
For example if for previous tax year
Maximum annual amount 3600
Total gross contribution 35000
Now what will be the unused annual allowance carried forward
1) 40000-3600=36400 OR
2) 40000-35000=5000???
Also another question
SEPARATE SITUATION
If relvant earnings are 50000
And gross contribution is 55000
On what amount will be the annual allowance charge
1) 50000-40000= 10000 OR
2) 55000-40000= 5000???
2 – 5000
2 – 5000
No – second question the allowance is fully used