As part of our continuous development at FinCalc, we are pleased to confirm the release of the Carry Forward Calculator and the Annual Allowance Calculator as the latest additions to our financial planning tools.
Quickly determine your client’s remaining Annual Allowance for this tax year or take a closer look at the previous tax years to determine the Carry Forward available, and the overall Annual Allowance position of your client.
Listed below are some of the smart features of this Calculator:
- Tapered Annual Allowance – Simply enter your client’s taxable income and other simple inputs for us to determine if their Annual Allowance will be tapered, and if so by how much.
- Defined Benefit Pension Input Amount – If you are unsure of this value, use our simple pop-up calculator to calculate this for you.
- Pension Contribution Calculator – Use our pop-up calculator to instantly pre-fill the contribution fields.
- Money Purchase Annual Allowance (MPAA) – If you have previously confirmed your client has triggered MPAA or they are planning to this tax year, the calculator will take this into account and not only show you the Annual Allowance breakdown but also the MPAA breakdown.
- Carry Forward available – The inputs allow you to include the carry forward from 2016 to ensure detailed results.
The onscreen results and professional client report illustrate how much additional contributions your client could make into their pensions. It will also confirm the chargeable amount if they have exceeded their allowance.
For further details on the Carry Forward & Annual Allowance, please contact us