Reminder of current tax relief for pension contributions
06 Dec, 2017
Many commentators had predicted that the Chancellor would further reduce the annual amount that can be saved into a pension as part of the Budget measures. However, these fears appear to have been unfounded as no changes were announced.
The annual allowance for tax relief on pensions will remain at the current level of £40,000 for 2018-19. There is also a three year carry forward rule that allows taxpayers to carry forward unused annual allowance from the last three tax years if they have
made pension savings in those years.