TAX
TABLES 2008
Registered
Pensions
| |
08-09 |
07-08 |
| Lifetime
allowance* |
£1,650,000 |
£1,600,000 |
| Annual
allowance |
£235,000 |
£225,000 |
Lifetime
allowance charge
|
55%
if excess is drawn as cash
25% if excess is drawn as income
|
| Annual
allowance charge |
40%
of excess |
| Maximum
pension commencement lump sum*
|
25%
of pension benefit value |
| Maximum
relievable personal contribution |
100%
of relevant UK earnings or
£3,600 if greater |
| |
|
*
Subject to transitional protection
for excess amount
|
|
|
©
Copyright 12 March 2008, subject to Finance
Act 2008. For information only. Always seek
professional advice before acting.
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