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Tax Rates & Allowances

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Pension Premiums

2013/14 and 2012/13

  • Tax relief available for personal contributions: higher of £3,600 (gross) or 100% of relevant earnings.
  • Any contributions in excess of £50,000, whether personal or by the employer, may be subject to income tax on the individual.
  • Where the £50,000 limit is not fully used it may be possible to carry the unused amount forward for three years.
  • Employers will obtain tax relief on employer contributions if they are paid and made 'wholly and exclusively'. Tax relief for large contributions may be spread over several years.