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Tax Tables
Pensions
|
2012/13 (£) |
2011/12 (£) |
Lifetime allowance |
1,500,000 |
*1,800,000 |
Lifetime allowance charge |
55% |
55% |
|
25% |
25% |
Annual allowance |
50,000 |
50,000 |
Annual allowance charge |
40% |
40% |
Maximum relievable personal contribution |
100% of UK earnings |
100% of UK earnings |
|
£3,600 if greater |
£3,600 if greater |
Maximum tax free cash |
25% of pension benefit value |
25% of pension benefit value |
Government is proposed to bring in a limit of 25% of income for pensions tax relief from April 2013 for Top rate taxpayers. |
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© 2012