RPSM06200050 - Member Pages: Annual Allowance: membership of more than one scheme
What if my pension input periods start at different times?
This guidance explains the annual allowance rules up to 5 April 2011. If you want to know how the annual allowance works after that date see the guidance at http://www.hmrc.gov.uk/pensionschemes/annual-allowance/index.htm.
An individual may belong to more than one scheme and those schemes will have different start dates for the pension input period. These will not coincide with the end of the tax year on April 5.To calculate the amount to count for annual allowance purposes in any one tax year it is the pension input amount in the input periods which end in the appropriate tax year that are used.
Example
An individual belongs to three registered pension schemes each with a different pension input period and needs to calculate the total pension input amount for the year ending 5 April 2008.
Schemes |
Input period |
Period to count |
|
1 |
1 January to 31 October |
To end of Oct2007 |
|
2 |
31 March to 31 March |
To end of March 2008 |
|
3 |
31 August to 31 August |
To end of Aug 2007 |
It will be seen that it is the pension input period ending in the tax year that is to count.
| Glossary (RPSM20000000) |
