QUESTION ONE: Chris is due to make a contribution to his SIPP on 25 August 2013 in a pension input period, which ends on 20 April 2014. What is the earliest tax year from which he can carry forward unused annual allowance in respect of this contribution?
QUESTION TWO: Arthur had total pension input in tax years 2010/11 to 2012/13 as follows
2010/11 – £20,000
2011/12 – £50,000
2012/13 – £30,000
The maximum aggregate contribution he can pay to registered pension schemes with pension input periods ending in 2013/14 without suffering an annual allowance charge in 2013/14 is
QUESTION THREE: Heather had total pension input in tax years 2008/09 to 2012/13 as follows
2008/09 – £35,000
2009/10 – £40,000
2010/11 – £10,000
2011/12 – £70,000
2012/13 – £25,000
The maximum aggregate contribution she can pay to registered pension schemes with pension input periods ending in 2013/14 without suffering an annual allowance charge in 2013/14 is
QUESTION FOUR: John has the following pension input amounts
The minimum level of contribution that John needs to make to registered schemes with pension input periods ending in 2013/14 to ensure that he does not waste any available carry forward provision is
QUESTION FIVE: Which one of the following individuals will not be eligible to take advantage of carry forward?
A) Alison, aged 71, whose only pension rights is a DB pension in payment
B) Bernice, aged 38, who is self-employed and whose only pension rights is as a deferred member of a DB pension scheme
C) Chloe, aged 44, who is a member of a personal pension scheme to which she has not contributed since 2004
D) Doreen, aged 33, who has just become UK resident, having been working in Singapore as a self-employed consultant for the previous 10 years
Questions supplied by Technical Connection
1 D – The PIP ends in the 2014/15 tax year. The unused annual allowance can be carried forward from the previous three tax years. Therefore the earliest of these would be 2011/12.