American_Bankers_Association
CTFA · Question #2
Trevor is a member of a defined benefit company pension scheme. Which factor relating to his circumstances confirms that he will avoid incurring a special annual allowance charge in the current tax…
The correct answer is C. His total annual earnings have never exceeded £110,000. See the full explanation below for the reasoning.
Taxation
Question
Trevor is a member of a defined benefit company pension scheme. Which factor relating to his circumstances confirms that he will avoid incurring a special annual allowance charge in the current tax year?
Options
- AHe is a member of an Employer Financed Retirement Benefit Scheme (EFRBS)
- BHe is aged 61
- CHis total annual earnings have never exceeded £110,000
- DHis benefits include the maximum level of death benefit
How the community answered
(23 responses)- A4% (1)
- B9% (2)
- C83% (19)
- D4% (1)
Topics
#defined benefit pension#annual allowance charge#pension taxation#EFRBS
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