Tel : 01606 810729
Fax : 01606 810475
Pensions
Registered by the Institute of Chartered Accountants in England and Wales to carry out company audit work
Registered Office : 98 Middlewich Rd, Northwich, Cheshire, CW9 7DA
Tel : 01606 810729 - Fax : 01606 810475 - Email: general@buxtonaccounting.co.uk
Members : D.W. Buxton B.Sc.(Jt Hons) ACA - G.J. Glover - LLP OC 308268 - Registered in England and Wales
© Buxton Accounting LLP 2007
ICAEW
Inland Revenue
From 6 April 2006 there are no restrictions on the number or type of approved personal pension schemes. From this date tax is charged on the value of the contributions that exceed the annual allowance or relevant earnings. Tax is also charged if the value of the pension at retirement exceeds the individual's lifetime allownace.
2008/2009
2007/2008 (£)
Annual Allowance
Lifetime Allowance
£ 235,000
£ 1,650,000
£ 255,000
£ 1,600,000