Annual Allowance Calculator
In the Finance Act 2011, the government made some key changes to limits on pension contributions:
- Broadly, from 6 April 2011 the annual allowance of £255,000 was reduced to £50,000. 'Carry Forward' of unused annual allowance was also introduced.
- The ability to define your own pension input period (PIP) has remained. This means you can plan the tax year in which contributions are assessed for annual allowance purposes and can therefore use more than one Annual Allowance in a tax year.
Our Annual Allowance calculator allows you to input the details of your client's previous and expected contributions to their pension arrangements.
It then works out:
- any amounts that would be subject to an Annual Allowance charge, and
- the amount of unused Annual Allowance including any carry forward opportunities.
| Launch Annual Allowance Calculator |
| (this requires Microsoft Excel - version 97 or later) |
Planning aids
Find out more about the advice opportunities from these rule changes:
Terms of Use
1. In the Terms of Use 'The Software' means all software (excluding Microsoft Excel) and other materials contained within the calculator.
2. Microsoft Excel is a registered trademark of the Microsoft Corporation.
3. Copyright and all other intellectual property rights in respect of The Software is, and shall remain at all times, in the ownership of Prudential.
4. The Software shall be for your own use and shall not be given, sold, loaned to or allowed to be used by any person not employed by or contracted to you.
5. You may make one copy of The Software for security back up purposes. These conditions shall apply to any copy made.
6. You must not decompile, reverse engineer or otherwise tamper with The Software contained within the calculator.
7. We may, from time to time, issue amended or updated versions of The Software. Should this occur, this will then become the current version of The Software at any time.
8. Prior to release of this calculator, we have carried out virus checks using up-to-date virus-checking software. We do however recommend that you carry out such checks as you consider appropriate prior to using these calculators. We cannot be held responsible for any loss or damage caused by the continued presence of a virus which has not been detected by the virus checking software.
9. The Software has been prepared in accordance with our understanding of the Guidelines of the Financial Services Authority and current taxation, legislation/draft legislation and HM Revenue & Customs practice, as at March 2012, all of which is liable to change without notice. The impact of taxation (and any tax reliefs) depends on individual circumstances.
10. We have applied care and skill to produce The Software to a professional standard. However, we cannot guarantee that The Software is free of errors or omissions, nor can liability be accepted for any losses, howsoever incurred, arising from the use of The Software.
1. In the Terms of Use 'The Software' means all software (excluding Microsoft Excel) and other materials contained within the calculator.
2. Microsoft Excel is a registered trademark of the Microsoft Corporation.
3. Copyright and all other intellectual property rights in respect of The Software is, and shall remain at all times, in the ownership of Prudential.
4. The Software shall be for your own use and shall not be given, sold, loaned to or allowed to be used by any person not employed by or contracted to you.
5. You may make one copy of The Software for security back up purposes. These conditions shall apply to any copy made.
6. You must not decompile, reverse engineer or otherwise tamper with The Software contained within the calculator.
7. We may, from time to time, issue amended or updated versions of The Software. Should this occur, this will then become the current version of The Software at any time.
8. Prior to release of this calculator, we have carried out virus checks using up-to-date virus-checking software. We do however recommend that you carry out such checks as you consider appropriate prior to using these calculators. We cannot be held responsible for any loss or damage caused by the continued presence of a virus which has not been detected by the virus checking software.
9. The Software has been prepared in accordance with our understanding of the Guidelines of the Financial Services Authority and current taxation, legislation/draft legislation and HM Revenue & Customs practice, as at March 2012, all of which is liable to change without notice. The impact of taxation (and any tax reliefs) depends on individual circumstances.
10. We have applied care and skill to produce The Software to a professional standard. However, we cannot guarantee that The Software is free of errors or omissions, nor can liability be accepted for any losses, howsoever incurred, arising from the use of The Software.
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