How do you inform me if I exceed the annual allowance?

 

If your contributions in a tax year exceed the annual allowance, we must provide you with a pension savings statement by 6 October following the end of that tax year. This gives you information on the contributions you’ve made to the scheme in the relevant tax year and the previous three tax years. The pension savings statement helps you assess whether you’re liable to an annual allowance tax charge (after taking into account any carry forward). If you’re liable to the charge, you must inform HM Revenue & Customs.

 

We aren’t authorised to give financial advice. If you require advice, you may wish to contact an independent financial adviser. If you don’t have a financial adviser, you may be able to find one local to you at: www.unbiased.co.uk

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