Unused 2015/16 Personal Pension Annual Allowance lapses on 5 April 2019

13th September 2018 | Posted in: Pensions, Savings & Investments, Personal Tax, Planning

To utilise any unused 2015/16 personal pension relief, any additional pension contributions will need to be paid by 5 April 2019, otherwise the relief from 2015/16 will lapse.

Note, however, that for some taxpayers the method of calculating unused personal pension relief for 2015/16 is extremely complicated as the government changed the pension rules part way through that year on 8 July 2015. The amount of pension allowance will depend on the pension input period for your scheme.

We can assist you to calculate your unused 2015/16 personal pension relief and it if would be tax efficient for you to utilise this prior to 5 April 2019.

 

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 kenny.mcneill@jsca.co.uk.
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