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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).
How should a partnership insure itself against an unplanned exit of a mortal kind? PENNY BATES has the answers.
MANY BUSINESSES, PARTICULARLY professional practices, operate as partnerships. Partnerships are assumed to exist where the parties actually share profits and losses proportionally, even though there may not be a written partnership agreement signed between the partners. Most advisers would advise their clients to have a written partnership agreement in place which could prevent problems arising between the partners in the future.
PENNY BATES looks at sophisticated pension schemes and property purchase pre and post A-day.
VARIOUS PENSION SCHEMES are available for the more sophisticated investor. These include small self administered schemes (SSASs), self invested personal pensions (SIPPs) and funded unapproved retirement benefit schemes (FURBS).
