24/25 Pension Contributions Question

[dibblecorse]

I've just drafted my sole trader tax return and have a surplus of funds but am I too late to pay those into my pension, I still have c20k or my 24/25 allowance available to me or should those funds have gone in before the end of the tax year? Maxing my allowance won't exceed my earnings. I just don't need the funds.

[GiantEnemyCrab]

You can carry forward up to 3 years of allowances if you were part of a scheme etc. current year allowances used first I think (not -00%)

[dibblecorse]

GiantEnemyCrab said:

You can carry forward up to 3 years of allowances if you were part of a scheme etc. current year allowances used first I think (not -00%)

Indeed, but what I am trying to work out is can I make a payment now and assign it to my 24/25 return?

[GiantEnemyCrab]

Not afaik because current year allowances used up first

[Smidge001]

No. If you make a payment now, it will be a 25/26 tax year payment. If your payment is more than £60k, you can then bring forward unused allowance from 24/25 against the excess. But the payment itself hits the 25/26 yax year.