Annual Allowance Calculator

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Salary and salary sacrifice

All of the below information and data can be found when you log into Your RBC Benefits or via your monthly payslip

Are you making employee pension contributions via salary sacrifice?

Yes No

Annual salary
(post sacrifice including any Role Based Pay)

£ Required field

Total annual employer contributions
(including salary sacrifice if applicable)

£ i

Add in other income you pay tax on (£pa)

Bonus / other income from RBC

£

Benefits in Kind
(as shown on your P11d tax form, for example Private Medical Insurance)

£

Investment income

£

Other taxable income

£

Take off any employee pension contributions (£pa)

Annual employee pension contributions (gross)
(If not made via salary sacrifice or if paid to a private non-RBC plan)

£

Threshold Income

£ {{ thresholdIncomeAnimate | number:0 }}

Adjusted Income

£ {{ adjustedIncomeAnimate | number:0 }}

N/A

Result

Estimated Allowance

£ {{ estimatedAllowanceAnimate | number:0 }}

Annual Allowance Exceeded?

Current Contributions

£ {{ currentContributionsAnimate | number:0 }}

Potential Tax Charge

£ {{ potentialTaxChargeAnimate | number:0 }}

What action can I take?

Print

1

Annual

Allowance

2

Lifetime

Allowance

What is the Allowance?

Watch our video.

What does it mean for me?

Use our calculator.

What action can I take?

See the potential solutions.

Pensions Lifetime Allowance abolished

Following conversations with senior doctors in the NHS and other experienced professionals, the pensions Lifetime Allowance (LTA) has been abolished.

The LTA is the maximum amount of tax-efficient pension savings you can accrue in your lifetime and includes the total value of your pensions, including your contributions, your employer’s contributions from your workplace pension, tax relief, and investment returns.

From 6 April 2023, there will be no limit on the amount of tax-efficient pension savings you can accrue. However, the maximum amount of tax-free cash available will remain capped at £268,275.

Calculation results are only a guide and are not guaranteed, they should not be relied upon as a recommendation or advice that a particular course of action is suitable.

Financial planning with

ilumiti LLP is authorised and regulated by the Financial Conduct Authority - Number 608554. The Financial Conduct Authority does not regulate tax advice.

Registered in England and Wales number OC386425
VAT number 169 1871 72

ilumiti LLP
483 Green Lanes,
London,
N13 4BS

Annual Allowance Calculator

Salary and salary sacrifice

Add in other income you pay tax on (£pa)

Take off any employee pension contributions (£pa)

Threshold Income

£ {{ thresholdIncomeAnimate | number:0 }}

Adjusted Income

£ {{ adjustedIncomeAnimate | number:0 }}

N/A

Result

Estimated Allowance

£ {{ estimatedAllowanceAnimate | number:0 }}

Annual Allowance Exceeded?

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Current Contributions

£ {{ currentContributionsAnimate | number:0 }}

Potential Tax Charge

£ {{ potentialTaxChargeAnimate | number:0 }}

Annual

Lifetime

What is the Allowance?

Watch our video.

What does it mean for me?

Use our calculator.

What action can I take?

See the potential solutions.

Pensions Lifetime Allowance abolished

Following conversations with senior doctors in the NHS and other experienced professionals, the pensions Lifetime Allowance (LTA) has been abolished.

The LTA is the maximum amount of tax-efficient pension savings you can accrue in your lifetime and includes the total value of your pensions, including your contributions, your employer’s contributions from your workplace pension, tax relief, and investment returns.

From 6 April 2023, there will be no limit on the amount of tax-efficient pension savings you can accrue. However, the maximum amount of tax-free cash available will remain capped at £268,275.