View more on these topics

IFA joins BoS in carryback initiative

Bank of Scotland and IFA Moorgate House have teamed up to help higher-rate taxpayers take advantage of the last chance to use the carry-forward facility in their pension planning.

Carry-forward, which allows investors to use up to six years&#39 unused tax relief, disappears on January 31.

The Catch-up Personal Pension Plan is for people aged over 50 with minimum unused relief of £50,000. The funds are invested in a self-invested personal pension administered by MH Trustees. There is a £100 arrangement fee, £250 Sipp set-up fee and an annual fee of £250.

Bank of Scotland head of client banking David Kennedy says: “No one likes to lose out on tax breaks but time is running out. Many of those with a substantial amount of unused tax relief may have been hampered by a lack of cash in order to make a large one-off contribution and claim the income tax relief.

“By making best use of existing tax legislation, this innovative scheme can help ensure that previous years&#39 valuable tax relief is secured.”

Recommended

The trades of Asia

The shaky world economy, allied with inc-reased geo-political tension, continues to weigh heav- ily on equity markets.In recent years, much of the world&#39s loose capital flowed to the US, all of which was gratefully received and much of which was promptly wasted.The flow of global capital is undeniably important to stockmarkets. It is also of […]

Lloyds TSB tops customer popularity survey

Lloyds TSB is the most popular bank in the UK due to its flexibility on customers&#39 financial needs, according to research by ICM for software services provider CMG.The survey, which interviewed over 1,000 adults across the UK, shows 18 per cent of people think Lloyds TSB has the best image, although the big four banks&#39 […]

Mellon – Mellon Asian Equity Portfolio

Tuesday, January 8, 2002.Type: Ucits.Aim: Growth by investing in equities and equity-related securities ofcompanies in Asia excluding Japan.Minimum investment: Euro 5,000 or $5,000.Place of registration: Dublin.Investment split: Equities 66.7 per cent, equity-related securities 33.3per cent.Isa link: No.Charges: A shares initial up to 5 per cent, annual 2 per cent.Commission: Initial 3 per cent, renewal 0.5 […]

Equitable says scheme has backing of institutional investors

Equitable Life chairman Vanni Treves says the society&#39s compromise scheme has received the backing of a number of institutional investors over the past few days.Speaking at Equitable&#39s policyholder meeting in London today, Treves said the chances of the scheme going through had received a boost after several group investors admitted they had voted for its […]

Trouble ahead - thumbnail

Pensions: trouble ahead?

The pace of change in the pension’s space has been little short of astonishing, and has left thousands of employers struggling to keep their pension policy compliant, and also on the right side of current best practice and governance. Many employers, and indeed many in the pensions industry itself, would like to see a period of no change during the next term of government. This would give all sides a chance to catch up and draw breath. 

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment