RESOURCES / REGISTERED PENSION SCHEME LIMITS

REGISTERED PENSION SCHEME LIMITS

2022/23

2021/22

Lifetime allowance (LA)

£1.0731m

Annual allowance (AA)*

£40,000

AA charge on excess inputs

20%-45%

Annual relievable pension inputs are the higher of earnings (capped at AA) or £3,600.

*From 2020/21 onwards the AA is reduced by £1 for every £2 by which relevant income exceeds £240,000, down to a minimum AA of £4,000.

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Latest news from JT Accounting

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