Transferring Pension pots & Tax
Discussion
Hi,
Im in the process of tidying up a few pensions into my biggest pot.
It's doing well the last few years so im hoping the more I put in the more growth I can accumulate.
One statement is;
"You don’t get tax relief on pension transfers as you have already received this when you first paid money into your pension. Only payments that have been made in the current tax year will count towards your annual allowance."
What is my annual allowance here ?
Im in the process of tidying up a few pensions into my biggest pot.
It's doing well the last few years so im hoping the more I put in the more growth I can accumulate.
One statement is;
"You don’t get tax relief on pension transfers as you have already received this when you first paid money into your pension. Only payments that have been made in the current tax year will count towards your annual allowance."
What is my annual allowance here ?
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