{"id":4711,"date":"2021-08-26T04:00:00","date_gmt":"2021-08-26T04:00:00","guid":{"rendered":"http:\/\/im-22341"},"modified":"2023-01-11T11:12:10","modified_gmt":"2023-01-11T11:12:10","slug":"covering-pension-contributions-with-unused-allowances","status":"publish","type":"post","link":"https:\/\/www.oneaccounting.co.uk\/covering-pension-contributions-with-unused-allowances\/","title":{"rendered":"Covering pension contributions with unused allowances"},"content":{"rendered":"<p>The annual allowance for tax relief on pensions is currently set at \u00a340,000. The annual allowance is further reduced for high earners. This means that if your income is in excess of \u00a3240,000 you will usually begin to see your \u00a340,000 annual allowance tapered. For every complete \u00a32 your income exceeds \u00a3240,000 the annual allowance is reduced by \u00a31. The annual allowance can also be reduced if you have flexibly accessed your pension pot.<\/p>\n<p>If you have not used all your annual allowance in a tax year, then the unused allowance can usually be carried forward to the current tax year and added to the current year\u2019s annual allowance. The calculation of the exact amount of unused annual allowance that can be carried forward can be complicated especially if you are subject to the tapered annual allowance.&nbsp;<\/p>\n<p>Normally, you can carry forward unused allowance from the three previous tax years. You do not need to report this to HMRC. If you have unused annual allowances from more than one year, you need to use the allowance in order of earliest to most recent. Any remaining balances can be used in future tax years, subject to the usual time limits. You do not need to report this to HMRC.<\/p>\n<p>HMRC\u2019s pension calculator can also help you check if you have any unused annual allowance to carry forward.<br \/>\n&nbsp;<\/p>\n<div style=\"font-size:smaller\" class=\"im_source\">Source: HM Revenue &amp; Customs   Tue, 24 Aug 2021 00:00:00 +0100<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The annual allowance for tax relief on pensions is<\/p>\n","protected":false},"author":1,"featured_media":4712,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1,160],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Covering pension contributions with unused allowances<\/title>\n<meta name=\"description\" content=\"The annual allowance for tax relief on pensions is\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.oneaccounting.co.uk\/covering-pension-contributions-with-unused-allowances\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Covering pension contributions with unused allowances\" \/>\n<meta property=\"og:description\" content=\"The annual allowance for tax relief on pensions is\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.oneaccounting.co.uk\/covering-pension-contributions-with-unused-allowances\/\" \/>\n<meta property=\"og:site_name\" content=\"One Accounting\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-26T04:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-11T11:12:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.oneaccounting.co.uk\/wp-content\/uploads\/2021\/08\/39d61fbe-c470-4514-9d3f-68de6ecf90d6.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"533\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.oneaccounting.co.uk\/covering-pension-contributions-with-unused-allowances\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.oneaccounting.co.uk\/covering-pension-contributions-with-unused-allowances\/\"},\"author\":{\"name\":\"Admin\",\"@id\":\"https:\/\/www.oneaccounting.co.uk\/#\/schema\/person\/846d7ee0fcbd148e3fd1aa38300917d3\"},\"headline\":\"Covering pension contributions with unused allowances\",\"datePublished\":\"2021-08-26T04:00:00+00:00\",\"dateModified\":\"2023-01-11T11:12:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.oneaccounting.co.uk\/covering-pension-contributions-with-unused-allowances\/\"},\"wordCount\":237,\"publisher\":{\"@id\":\"https:\/\/www.oneaccounting.co.uk\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.oneaccounting.co.uk\/covering-pension-contributions-with-unused-allowances\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.oneaccounting.co.uk\/wp-content\/uploads\/2021\/08\/39d61fbe-c470-4514-9d3f-68de6ecf90d6.jpg\",\"articleSection\":[\"News\",\"Pension\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.oneaccounting.co.uk\/covering-pension-contributions-with-unused-allowances\/\",\"url\":\"https:\/\/www.oneaccounting.co.uk\/covering-pension-contributions-with-unused-allowances\/\",\"name\":\"Covering pension contributions with unused allowances\",\"isPartOf\":{\"@id\":\"https:\/\/www.oneaccounting.co.uk\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.oneaccounting.co.uk\/covering-pension-contributions-with-unused-allowances\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.oneaccounting.co.uk\/covering-pension-contributions-with-unused-allowances\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.oneaccounting.co.uk\/wp-content\/uploads\/2021\/08\/39d61fbe-c470-4514-9d3f-68de6ecf90d6.jpg\",\"datePublished\":\"2021-08-26T04:00:00+00:00\",\"dateModified\":\"2023-01-11T11:12:10+00:00\",\"description\":\"The annual allowance for tax relief on pensions is\",\"breadcrumb\":{\"@id\":\"https:\/\/www.oneaccounting.co.uk\/covering-pension-contributions-with-unused-allowances\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.oneaccounting.co.uk\/covering-pension-contributions-with-unused-allowances\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.oneaccounting.co.uk\/covering-pension-contributions-with-unused-allowances\/#primaryimage\",\"url\":\"https:\/\/www.oneaccounting.co.uk\/wp-content\/uploads\/2021\/08\/39d61fbe-c470-4514-9d3f-68de6ecf90d6.jpg\",\"contentUrl\":\"https:\/\/www.oneaccounting.co.uk\/wp-content\/uploads\/2021\/08\/39d61fbe-c470-4514-9d3f-68de6ecf90d6.jpg\",\"width\":800,\"height\":533},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.oneaccounting.co.uk\/covering-pension-contributions-with-unused-allowances\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.oneaccounting.co.uk\/category\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Covering pension contributions with unused allowances\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.oneaccounting.co.uk\/#website\",\"url\":\"https:\/\/www.oneaccounting.co.uk\/\",\"name\":\"One Accounting\",\"description\":\"Small Business Accountants Edinburgh\",\"publisher\":{\"@id\":\"https:\/\/www.oneaccounting.co.uk\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.oneaccounting.co.uk\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.oneaccounting.co.uk\/#organization\",\"name\":\"One Accounting\",\"url\":\"https:\/\/www.oneaccounting.co.uk\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.oneaccounting.co.uk\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.oneaccounting.co.uk\/wp-content\/uploads\/2020\/05\/One_Accounting-logo_502px.png\",\"contentUrl\":\"https:\/\/www.oneaccounting.co.uk\/wp-content\/uploads\/2020\/05\/One_Accounting-logo_502px.png\",\"width\":503,\"height\":503,\"caption\":\"One Accounting\"},\"image\":{\"@id\":\"https:\/\/www.oneaccounting.co.uk\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.oneaccounting.co.uk\/#\/schema\/person\/846d7ee0fcbd148e3fd1aa38300917d3\",\"name\":\"Admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.oneaccounting.co.uk\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/1e46787b0680a930ed1efa660e68e78c?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/1e46787b0680a930ed1efa660e68e78c?s=96&d=mm&r=g\",\"caption\":\"Admin\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Covering pension contributions with unused allowances","description":"The annual allowance for tax relief on pensions is","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.oneaccounting.co.uk\/covering-pension-contributions-with-unused-allowances\/","og_locale":"en_US","og_type":"article","og_title":"Covering pension contributions with unused allowances","og_description":"The annual allowance for tax relief on pensions is","og_url":"https:\/\/www.oneaccounting.co.uk\/covering-pension-contributions-with-unused-allowances\/","og_site_name":"One Accounting","article_published_time":"2021-08-26T04:00:00+00:00","article_modified_time":"2023-01-11T11:12:10+00:00","og_image":[{"width":800,"height":533,"url":"https:\/\/www.oneaccounting.co.uk\/wp-content\/uploads\/2021\/08\/39d61fbe-c470-4514-9d3f-68de6ecf90d6.jpg","type":"image\/jpeg"}],"author":"Admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Admin","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.oneaccounting.co.uk\/covering-pension-contributions-with-unused-allowances\/#article","isPartOf":{"@id":"https:\/\/www.oneaccounting.co.uk\/covering-pension-contributions-with-unused-allowances\/"},"author":{"name":"Admin","@id":"https:\/\/www.oneaccounting.co.uk\/#\/schema\/person\/846d7ee0fcbd148e3fd1aa38300917d3"},"headline":"Covering pension contributions with unused allowances","datePublished":"2021-08-26T04:00:00+00:00","dateModified":"2023-01-11T11:12:10+00:00","mainEntityOfPage":{"@id":"https:\/\/www.oneaccounting.co.uk\/covering-pension-contributions-with-unused-allowances\/"},"wordCount":237,"publisher":{"@id":"https:\/\/www.oneaccounting.co.uk\/#organization"},"image":{"@id":"https:\/\/www.oneaccounting.co.uk\/covering-pension-contributions-with-unused-allowances\/#primaryimage"},"thumbnailUrl":"https:\/\/www.oneaccounting.co.uk\/wp-content\/uploads\/2021\/08\/39d61fbe-c470-4514-9d3f-68de6ecf90d6.jpg","articleSection":["News","Pension"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.oneaccounting.co.uk\/covering-pension-contributions-with-unused-allowances\/","url":"https:\/\/www.oneaccounting.co.uk\/covering-pension-contributions-with-unused-allowances\/","name":"Covering pension contributions with unused allowances","isPartOf":{"@id":"https:\/\/www.oneaccounting.co.uk\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.oneaccounting.co.uk\/covering-pension-contributions-with-unused-allowances\/#primaryimage"},"image":{"@id":"https:\/\/www.oneaccounting.co.uk\/covering-pension-contributions-with-unused-allowances\/#primaryimage"},"thumbnailUrl":"https:\/\/www.oneaccounting.co.uk\/wp-content\/uploads\/2021\/08\/39d61fbe-c470-4514-9d3f-68de6ecf90d6.jpg","datePublished":"2021-08-26T04:00:00+00:00","dateModified":"2023-01-11T11:12:10+00:00","description":"The annual allowance for tax relief on pensions is","breadcrumb":{"@id":"https:\/\/www.oneaccounting.co.uk\/covering-pension-contributions-with-unused-allowances\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.oneaccounting.co.uk\/covering-pension-contributions-with-unused-allowances\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.oneaccounting.co.uk\/covering-pension-contributions-with-unused-allowances\/#primaryimage","url":"https:\/\/www.oneaccounting.co.uk\/wp-content\/uploads\/2021\/08\/39d61fbe-c470-4514-9d3f-68de6ecf90d6.jpg","contentUrl":"https:\/\/www.oneaccounting.co.uk\/wp-content\/uploads\/2021\/08\/39d61fbe-c470-4514-9d3f-68de6ecf90d6.jpg","width":800,"height":533},{"@type":"BreadcrumbList","@id":"https:\/\/www.oneaccounting.co.uk\/covering-pension-contributions-with-unused-allowances\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.oneaccounting.co.uk\/category\/news\/"},{"@type":"ListItem","position":2,"name":"Covering pension contributions with unused allowances"}]},{"@type":"WebSite","@id":"https:\/\/www.oneaccounting.co.uk\/#website","url":"https:\/\/www.oneaccounting.co.uk\/","name":"One Accounting","description":"Small Business Accountants Edinburgh","publisher":{"@id":"https:\/\/www.oneaccounting.co.uk\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.oneaccounting.co.uk\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.oneaccounting.co.uk\/#organization","name":"One Accounting","url":"https:\/\/www.oneaccounting.co.uk\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.oneaccounting.co.uk\/#\/schema\/logo\/image\/","url":"https:\/\/www.oneaccounting.co.uk\/wp-content\/uploads\/2020\/05\/One_Accounting-logo_502px.png","contentUrl":"https:\/\/www.oneaccounting.co.uk\/wp-content\/uploads\/2020\/05\/One_Accounting-logo_502px.png","width":503,"height":503,"caption":"One Accounting"},"image":{"@id":"https:\/\/www.oneaccounting.co.uk\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/www.oneaccounting.co.uk\/#\/schema\/person\/846d7ee0fcbd148e3fd1aa38300917d3","name":"Admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.oneaccounting.co.uk\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/1e46787b0680a930ed1efa660e68e78c?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/1e46787b0680a930ed1efa660e68e78c?s=96&d=mm&r=g","caption":"Admin"}}]}},"_links":{"self":[{"href":"https:\/\/www.oneaccounting.co.uk\/wp-json\/wp\/v2\/posts\/4711"}],"collection":[{"href":"https:\/\/www.oneaccounting.co.uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oneaccounting.co.uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oneaccounting.co.uk\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oneaccounting.co.uk\/wp-json\/wp\/v2\/comments?post=4711"}],"version-history":[{"count":1,"href":"https:\/\/www.oneaccounting.co.uk\/wp-json\/wp\/v2\/posts\/4711\/revisions"}],"predecessor-version":[{"id":7650,"href":"https:\/\/www.oneaccounting.co.uk\/wp-json\/wp\/v2\/posts\/4711\/revisions\/7650"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oneaccounting.co.uk\/wp-json\/wp\/v2\/media\/4712"}],"wp:attachment":[{"href":"https:\/\/www.oneaccounting.co.uk\/wp-json\/wp\/v2\/media?parent=4711"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oneaccounting.co.uk\/wp-json\/wp\/v2\/categories?post=4711"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oneaccounting.co.uk\/wp-json\/wp\/v2\/tags?post=4711"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}