Tax Rates 2014/15

Pension Contributions

Maximum annual tax-efficient gross contributions to age 75

- individuals	£3,600 or 100% of earnings to £40,000
- employers	£40,000 less employee contributions

Only current earnings count for the 100% limit. If less than max. (£50K to 2013/14) has been paid in any of the preceding 3 years, current contributions may be increased by the shortfall. Most personal pension contributions are paid net of basic rate tax. Maximum tax-efficient fund on taking benefits in 2014/15: £1.25m, unless 'protection' is claimed for an existing fund.