An employee a few times a year sacrifices their bonus into their workplace penison. How much per year can he sacrifice this way?
Taking into account the annual allowance limit for the current tax year is £40,000 and that it includes all the contributions, tax relief and employer contributions across all their pension arrangements, is it best to ask them to get an advice from a professional pension advisor?
Also if they go over this limit, this will result in a tax charge, known as the annual allowance charge. How is this charged please?