CHRIS JONES looks at the pension scheme possibilities and problems post-April 2006.
HAVING A BRIEFING so soon after the Pre-Budget Report was bound to be dangerous. It affected two of the talks given — Mike Truman was given about ten minutes of new material to get through on the subject of UITF 40, whereas I lost the chance to give tax planning ideas for holding residential property in a SIPP! However, even without that possibility, the new rules offer some substantial advantages.
Contributions
Tax-privileged contributions (the only ones which will qualify for relief) to a pension scheme by an individual are limited to £3,600 gross, or the lower of:
