Reporting a pension annual allowance breach and paying the tax charge

If you have breached the annual allowance – the amount that can be contributed into your pension each tax year – it’s your responsibility to report it to HMRC, and you usually have sole liability for paying the charge.

In this video I explain how to report a breach via your Self Assessment tax return and which forms to complete, who is liable for Annual Allowance, Tapered Annual Allowance and Money Purchase Annual Allowance tax charges, and where carry forward rules may apply.

HMRC Annual Allowance calculator: https://www.tax.service.gov.uk/pensio...

Other videos you might like:

The Annual Allowance explained:    • The Pension Annual Allowance explained 2021  

The Money Purchase Annual Allowance (MPAA) explained:    • The MPAA (Money Purchase Annual Allowance)...   Tapered Annual Allowance explained:    • The Tapered Annual Allowance explained  

Pensions Annual Allowance and the carry forward rules:    • Pensions Annual Allowance - Use it or lose...  

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