Enter Your E-mail

HM Revenue & Customs has announced a couple of minor changes to the Annual Allowance regime for pensions – specifically where there is an Annual Allowance charge because contributions are ‘excessive’:

1. Where the individual elects for the charge to be paid by the fund rather than personally, it should not affect the tax treatment of the pension
2. The fund administrator will have to identify the year to which the charge relates

For further information, see Annual Allowance - Technical Improvements