PPRuNe Forums - View Single Post - Worried about the new pension tax allowance?
Old 30th Apr 2011, 07:33
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Al R
 
Join Date: Jul 2007
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Don't lose sight of the new lifetime allowance either - anyone senior enough and/or moving on to a successful civvy career could be pinged for a sizeable tax bill (contributions over the new £1.5 million limit incur a tax charge of 55%).

When the pay freeze is lifted, there will be up to 1000 officers affected by breaching the annual allowance. A tax liability of <£2000 may be absorbed by taking it out of your gratuity.. final guidance on that has yet to be published.

Whenurhappy, we have Chartered Status - if you need a quick steer drop me a line. I'm with clients most of next week but would be happy to help if I can.

JagMate, the period that is going to affect you is the period that your pension contributions reflect your rank. Have you read the DIN? If you want a hand, drop me a line.
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