Damon is a member of a defined benefit registered pension scheme. On retirement, he will receive an annual pension equal to 1/60th of final salary for each year of pensionable service. He will also receive a lump sum equal to 3/80ths of final salary for each year of pensionable service.

At the start of tax year 2017-18, Damon's annual salary was £360,000 and he had accumulated 20 years of pension able service. By the end of the year his salary had risen to £390,000.

Damon's marginal rate of income tax for 2017 -18 is 45% and he has no unused annual allowance brought forward from previous years. His "adjusted income" for the year is

£427,500 and his "threshold income" exceeds £110,000. Calculate the annual allowance charge payable for 2017-18. (Ignore inflation).