PENNY BATES illustrates why the interaction of retirement annuity and personal pension reliefs is anything but simple.
LONSDALE V BRAISBY was recently heard in the Court of Appeal following decisions from the High Court ([2004] STC 1606) and the General Commissioners. The points at issue were the amount of unused relief relating to retirement annuity plans and how the sum of unused relief is calculated and reduced under the transitional provisions of TA 1988, s 655(1).
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