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Useful Annual Allowance Calculator

16 June 2017

Jamie Barnes at Headley’s Financial Services looks at one of the tools he finds most useful.

I find a very useful calculator, especially towards tax year end, is the Prudential Annual Allowance calculator.

It is a simple downloadable Excel spreadsheet that works out whether a client has any carry forward allowance available to use, and what the effect of making a further contribution will be.

More impressively it now has an additional tool to work out whether a client will be subject to the tapered annual allowance, and factors that into the ultimate calculation.

With the client’s full income details, and a breakdown of their pension contributions for the past few years, you can quickly input the data and produce the results required to advise the client.

I tend to use it on a weekly basis between January and April and haven’t found any calculator from other providers to even come close to the accuracy of it.

The only thing missing from it is the link between high earners losing their personal allowance and the tax saved with the pension contributions (if an employee).

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