Guidance

Step by step guide for the AFPS Pension Savings Taxation (Annual Allowance) notification letter for tax year 2020/21

This guide has been provided to assist members of the armed forces who have exceeded the standard tax free pension savings limit.

From:
Ministry of Defence
Published
16 June 2021
Last updated
17 June 2022 — See all updates

This publication was withdrawn on

This publication is replaced by Step by step guide for the AFPS Pension Savings Taxation (Annual Allowance) notification letter for tax year 2021/22

Documents

Step by step guide for AFPS Annual Allowance notification letter for tax year 2020/2021

ODT, 390 KB

This file is in an OpenDocument format

Details

This guide has been provided to assist members of the armed forces to establish:

  • if they are liable for a Pension Savings tax charge
  • how to work out their tax bill if they are liable for a Pension Savings tax charge
  • how to register for a self-assessment tax return, if required
  • how to complete that tax return and how to pay the tax bill
  • if they have exceeded the standard pension savings limit of £40,000 for tax year 2020/21 or both the threshold income exceeds £200,000 and the adjusted income (threshold income plus PIA) exceeds £240,000, on their AFPS pension savings.
Published 16 June 2021
Last updated 17 June 2022 + show all updates

  1. Updated step by step guide to 2021/2022 and removed previous versions of guide.

  2. Addition of 'Armed Forces Pension Scheme: a step-by-step guide to the Pension Savings Taxation Notification Letter for tax year 2020/21'.

  3. First published.