Lisa Webster: Annual allowance charges explained (and how to pay)

Reporting and deadlines

clock • 4 min read

Lisa Webster explains annual allowance charges and factors in reporting and all-important deadlines...

31 January was deadline day. Not just for football transfers but for self-assessment tax returns. The pro-active among us may well have filed months ago (and according to HMRC there were even 2,828 who filed on Christmas Day), but many will be gathering information with a last-minute rush to beat the deadline. We are often asked how breaches of the pension annual allowance are reported, and how carry forward is dealt with. What and where on the self-assessment forms should this information be provided? It is the individual's responsibility to report any annual allowance breach to H...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Tax planning

Offshore bonds explained - how they work and what clients they are suitable for

Offshore bonds explained - how they work and what clients they are suitable for

Resurgence in interest over the past few months

Laura Purkess
clock 24 February 2026 • 5 min read
Webinar: IHT on pensions – Advisers' questions answered

Webinar: IHT on pensions – Advisers' questions answered

Join us on 10 March 2026

Professional Adviser
clock 20 February 2026 • 1 min read
IHT receipts continue climb to £7.1bn

IHT receipts continue climb to £7.1bn

Experts note ‘fairly modest’ growth

Jen Frost
clock 20 February 2026 • 3 min read