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Pensions – Unused Allowances C/f – Taxation

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Pensions – Unused Allowances C/f – Taxation

  • This topic has 5 replies, 2 voices, and was last updated 1 month ago by JillyB.
Viewing 6 posts - 1 through 6 (of 6 total)
  • Author
    Posts
  • December 1, 2022 at 4:35 pm #673056
    boaz7bm
    Participant
    • Topics: 7
    • Replies: 7
    • ☆

    Hi,

    Please can you explain this question. I have tried working it out but am not been able to understand the answer.
    Thank you so much for your support

    Petula has been employed as a sales manager by Downtown plc since 6 April 2012. The following information is the summarised information available in respect of the tax year 2021/22:

    Note:
    Petula’s adjusted income computed for the tax year 2021-22 exceeds £312,000

    Each tax year since 6 April 2014 (including the tax year 2021–22), Downtown plc has contributed £25,000 to the company’s occupational pension scheme on Petula’s behalf. Petula has never personally made any pension contributions. Petula’s adjusted income for 2018/19, 2019/20, and 2020/21 was below £150,000

    (b) Advise Petula of the total amount of her unused pension annual allowances which are available to carry forward to the tax year 2022-23.

    December 2, 2022 at 11:01 am #673108
    JillyB
    Moderator
    • Topics: 0
    • Replies: 182
    • ☆☆

    When you tried to answer the question – what answer did you come up with?
    I’m not going to show you the answer as it will be either in the back of the manual or the text book – which part did you not understand having tried it first?

    December 2, 2022 at 6:53 pm #673144
    boaz7bm
    Participant
    • Topics: 7
    • Replies: 7
    • ☆

    While calculating the unused allowances to be carried forward to 2022-23 I am getting 26000 but the answer in the back of the manual shows 24000 and an explanation is not given. So I have not understood the final answer.

    December 4, 2022 at 1:09 pm #673325
    JillyB
    Moderator
    • Topics: 0
    • Replies: 182
    • ☆☆

    Did the answer show you a calculation?

    December 5, 2022 at 4:04 am #673419
    boaz7bm
    Participant
    • Topics: 7
    • Replies: 7
    • ☆

    Yes but the calculation seems confusing or some error

    December 5, 2022 at 1:12 pm #673474
    JillyB
    Moderator
    • Topics: 0
    • Replies: 182
    • ☆☆

    Let me see the answer please

  • Author
    Posts
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