Tax centre
Tax tables 2007-08
Registered Pensions
| 2007/08 | 2006/07 | |
|---|---|---|
| Lifetime allowance* | £1,600,000 | £1,500,000 |
| Annual allowance | £225,000 | £215,000 |
| 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 | |
© Copyright 21 March 2007, subject to Finance Act 2007. For information only. Always seek professional advice before acting.