The short answer to this is that you have an annual allowance of £40,000.
You should always take advice each year to make sure that you are not exceeding any limits or even missing out on any tax relief.
The ‘less’ answer comes into play if:
The ‘more’ answer comes into play if you can take advantage of any unused annual allowance from the previous three years. This could be as much as £160,000 in one year. You do have to have had a pension in place for each of the years that you carry forward from and you have to have earnings in the current tax year of at least the total amount that you are contribution.
Another allowance to keep an eye on also is the lifetime allowance which is currently £1,030,000.
Remember, you have until 5 April 2019 to make your pension contributions for 2018/19.
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