Calculate your NHS Annual Allowance

Sandison Easson Medical Accountants Limited ( a newly formed member of the Sandison Easson Group) has provided an estimator toolkit to give hospital consultants some indication of what their deemed pension input will be for tax purposes.

allowance
nhs
allowance calculator
nhs calculator

Our NHS Pension Calculators

pension allowance
pension allowance calculator
annual allowance
nhs annual allowance
nhs pension allowance

2018/19 Calculator

Start

The first a historical one to assist in determining if an Annual Allowance tax charge may be payable for 2018/19 and with the assistance of your accountant or financial adviser determine whether the quantum of tax can be paid personally or by way of a Scheme Pay Election.
annual allowance calculator
nhs annual allowance calculator
nhs pension allowance calculator

2019/20 Calculator

Start

The second calculator allows an estimation of the anticipated deemed pension growth such that advice can again be sought from your accountant or financial adviser.

Most accountants and financial advisers will have their own toolkit to determine if there are any issues. Our annual allowance calculators act only as a toolset to help alert you to any issues.

Even if the calculator produces a deemed pension growth of less than £40,000, you must discuss whether the information you provided on this website was accurate, and – more importantly – whether Tapering of the Annual Allowance impacts upon you.

The calculator is only for members of the 1995 and 1995/2015 NHS Pensions Schemes. It does not cover 2008 members nor mental health officers. Calculators for these schemes have been produced but are currently being tested.

How the calculators work

The calculator asks 1995 members only 4 questions relating to pensionable pay and length of service. Pensionable pay is on the bottom left-hand corner of your monthly payslip.

For 1995/2015 members, one additional question is asked regarding value of 2015 pension for Annual Allowance purposes.

If no information is available then 2018 pensionable salary can be used. It assumes you entered the 2015 scheme on 1 April 2015. If not and you transitioned, then the calculator needs an adjusted salary figure as described in question 5.

The common limitations of our calculators are as follows:

Pensionable salary details are to 31st March. The legislation provides that growth be determined to 5th April each year. NHS Pensions adjusts for this.
Adjustments are made to the 1995 scheme on the basis that it is the best salary of the last three years, whereas the 2015 scheme is a career average scheme.
The NHS Pension payslip (if Added Years are being bought) normally states ‘1 full year’, whereas in fact the number of Added Years can be greater and further enquiries may have to be made by you.
The Annual Allowance Statement provided by NHS Pensions England and Wales includes growth and value of pensions for Annual Allowance purposes. Please note the value of pensions for Annual Allowance purposes and not the Capital Value which is used for Lifetime Allowance purposes.
In Scotland, the Scottish Public Pensions Agency (SPPA) – when it provides an Annual Allowance Statement – does not include the value for Annual Allowance purposes. However, the Annual Benefit Statement will provide the Capital Value for Lifetime Allowance purposes.
Finally, if pensionable salary has decreased from one year to another by way of reduced PA’s or opting in or out of the pension scheme then the calculator may produce a nil or negative result for the 1995 Scheme. This should not be relied upon. Seek further advice from your accountant or financial adviser as the 1995 scheme may have to be adjusted for whole time equivalents.

Finally, Sandison Easson Medical Accountants Limited is not responsible for any acts or omissions arising from the use of our Annual Allowance calculators. We strongly suggest discussing the accuracy of any result with your accountant or financial adviser. Sandison Easson Medical Accountants Limited and its associated group members are not financial advisers, and the calculator toolkit’s sole purpose is to assist in determining if Annual Allowance tax is an issue and alerting individuals to seek professional assistance.