Originally Posted by
Easy Street
If you are already drawing your pension then it won’t. If you are still serving it would double the in-year tax charge levied on you every time a pay increment or promotion added more than £40k to your notional pension pot in one year. When this first became a ‘thing’ a few years ago it only affected gp capts and above (and medics/dentists/lawyers), but it’s already crept down to catch wg cdrs by the threshold not keeping pace with pay. The direction of travel on this looks to be one way so it wouldn’t be a surprise if PA sqn ldrs got caught eventually.
Thanks. How do you work out this notional addition to the pension pot?