UK Unused Annual Pension Allowance


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Please can someone clarify how to leverage your unused annual pension allowance from previous years. The following article states "You can carry forward unused annual allowances from the 3 previous tax years. You do not need to report this to HMRC." https://www.gov.uk/guidance/check-if-you-have-unused-annual-allowances-on-your-pension-savings.

I have contacted an accountancy firm who have quoted for submitting my 19/20 self-assessment as well as amending previous returns going back to 16/17 in order for me to use the previous 3 years allowance and stay within the threshold.

Can someone confirm whether this is correct or if it is possible to just submit this years' return?
 
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Werner Reisacher

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You are well-advised to get a second opinion from a local CPA or contact the customer service department of the pension fund management. I would also ask the accountancy firm that gave you the quote on what basis they came to their conclusion that tax files need to be adjusted retroactively.
 

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