Pension Premiums

2008/09 and 2007/08

Tax relief available for personal contributions: higher of £3,600 (gross) or 100% of relevant earnings.
Employers will obtain tax relief on employer contributions if they are paid and made ‘wholly and exclusively’. Tax relief for large contributions may be spread over several years.
Any contributions in excess of £235,000 (£225,000), whether personal or by the employer, may be subject to income tax on the individual at 40%.
No carry back of pension contributions.