Good evening,
I know excess pension contribution is taxed as extra income. But if there are savings income and/or dividend income as well as non savings income would the annual allowance charge come after all income has been dealt with or just after non savings income in the computation of income tax liability?
Many thanks
Ask the Tutor ACCA TX-UK
Pensions - the annual allowance charge
The AA charge does not appear as income within the calculation of taxable income but shows as a tax calculation in the computation of tax liability - see OT notes
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