Pension Planning

15th January 2019 | Posted in: Pensions, Savings & Investments, Planning pension

For most taxpayers the maximum pension contribution is £40,000 each tax year, although this depends on their earnings. This limit covers contributions by both the individual and their employer.

Note that the unused pension allowance for a tax year may be carried forward for three years.  If not utilised within the three years it will then lapse. Note any unused pension allowance for 2015/2016 will therefore lapse on 5 April 2019.

Under the current rules the net (after tax) cost of saving £10,000 in a personal pension for a higher rate taxpayer is only £6,000, but there are rumours that this generous relief may be reduced in future.

Photo by Aaron Burden on Unsplash

Check your pensions savings annual allowance

If you feel we could help you and would like to discuss any of the above, please contact Kenny McNeill CTA on 0131 317 7377 or email to
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