Claire Trott: Pension contribution limit breaches explained

Contributions are sometimes paid which exceed the amount the member can reclaim tax relief on or which are in excess of their annual allowance (AA) after carry forward. What can happen depends on the circumstances of the excess contribution. It is important to distinguish between contributions in excess of a client's relevant UK earnings and contributions in excess of the AA. This has become even more complex for those without advisers because of the difference in the figures used for tapered AA  calculations and those used for relevant UK earnings. Exceeding relevant UK earnings T...