Director pension contribution from ltd company

[BalS]

I’m the sole director of a limited company. In the 2023-24 tax year, I started a pension with AJ Bell and made a £40,000 contribution from my company. I also have a Nest pension from previous years. This year, I plan to contribute £60,000 to my pensions, with the goal of paying a total of £80,000 by using £20,000 of carry-forward from the previous tax year. The contributions will be split mainly between Nest and AJ Bell. I have sufficient profits in the company to cover the contributions.


Is this approach compliant, and am I allowed to use carry-forward to top up the contribution this year ?

 

[MikeJ]

You can carry forward three years allowances.

 

[xjr13m]

You need to check, but as I understand it you can't use your carry forward allowance to contribute in excess of the money purchase annual allowance. So you'd need to have used up all your carry forward allowance before you can contribute more than £60K in a new tax year