Tapered Annual Allowance & Carry Forward
Afternoon all. Its been a while since I have been looking at calcs around this but we have a client that I now need to look at the figures. I am aware of all the usual cashcalc/standard life/pru calculators around this but just a simple question to start really. Should be straight forward but I am having a Friday mindblock.
For 2019/20 tax year we won't know his exact income as this is reliant on large bonuses. However, we have previous years P60 and total pay has been between £211K tand £102K.
I have the PIAs for each of the tax years needed (all employer contributions), however, my question as follows:
- In relation to the previous 3 years earnings, do I need to work out if he breached any limits for taper in those tax years to work out what his reduced annual allowance would be for those years, so I then know what to carry forward from each year or is it purely this tax year for taper?
I would of thought it was on all 3 previous years (taper came in April 2016), but none of the calculators ask for previous years earnings, just this year.