Expensing a loss from the previous tax year in the current year. Unused allowances can also be carried forward.
Maximum amount that can be paid into the pension is upto £40,000, based on your income. To carry it forward, the maximum amount needs to be paid into the pension, then you can use upto 3 previous years worth of unused allowance to add to the pension pot. Note: You can’t contribute more than you’ve earned and you need to be part of a private pension scheme for the years carrying forward.
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