The MoD has updated its useful step by step guide for the AFPS Pension Savings Taxation (Annual Allowance) notification letter for Tax Year 2020/2021.
The Annual Allowance notification letters are due out very soon, so this timely guide has been updated to assist members of the Armed Forces who have exceeded the standard tax free pension savings limit of £40,000 for tax year 2020/2021 or both the threshold income exceeds £200k and the adjusted income (threshold income plus PIA) exceeds £240k, on their AFPS pension savings.
