Pensions
| 2019/20 £ |
2018/19 £ |
|
| Lifetime allowance | 1,055,000 | 1,030,000 |
| Lifetime allowance charge | (Lump sum) 55% | (Lump sum) 55% |
| (Pension) 25% | (Pension) 25% | |
| Annual allowance* | 40,000 | 40,000 |
| Money purchase annual allowance | 4,000 | 4,000 |
| Annual allowance charge | marginal rate | marginal rate |
| Maximum relievable personal contribution | 100% of relevant earnings | 100% of relevant earnings |
| £3,600 if greater | £3,600 if greater | |
| Maximum tax free cash | 25% of pension benefit value | 25% of pension benefit value |
| *Can be reduced when earnings in excess of £110,000. | ||
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