[QUOTE=Al R;11061723]Your annual statement should give you the percentage attained towards your lifetime allowance. Are you married? If so, consider the merits and pros and cons of contributing into a pension in your wife or partner’s name. Or consider the ISA wrapper instead.[/QUOTEI agree with Al. If you have a spouse and they are a lower rate tax payer then you probably need to write to Glasgow to get your PIA report.
PAS Flt Lt is definitely higher rate territory, so you may find that you are close to the AA, but not definitely. It could make financial sense to get your 40% tax rebate up to the limit, then invest in your spouse’s.
you may need a good tax accountant to ensure you don’t breach your AA, and from experience the FPS steer you to a professional. If you do breach this year’s AA your PIA statement will tell you if you have part of last year’s allowance to use.
It’s a complex area, but totally doable, maybe even without an accountant. The money is there for claiming, and SIPPs are great fun!