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Pension Contributions have exceeded the lifetime allowance

Article ID
ias-12373
Article Name
Pension Contributions have exceeded the lifetime allowance
Created Date
28th December 2016
Product
IRIS Personal Tax
Problem
How to deal with a client who has exceeded their allowance for pension contributions.
Resolution
Users are required to; 1) Go to Reliefs | Pension Contributions | Personal Pension Contributions – and enter the amount actually contributed 2) Go to Maximum Contributions and enter the amount allowable for Pension Contribution (if there is any unused amount that has been brought forward that will stop a charge from arising then add this amount to the £50, 000) 3) If the client IS liable to pay a charge on the excess, then go to the Income Menu | Pensions & State Benefits | Pension Charges and enter the excess amount that they contributed into the Amount saved towards pension in excess of the annual allowance field.

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