View more on these topics



The impending introduction of the new stakeholder schemes and the DC tax regime will provide more opportunities for pension planning both before and after 6 April 2001. We have already witnessed the introduction of legislation covering the introduction of stakeholder pensions, the new defined contribution tax regime, pension sharing and bankruptcy. Despite this the Budget has announced a number of important changes which will have far reaching affects particularly for final salary occupational schemes.


A number of directors will have a keen interest in reducing both corporation tax (and also employer&#39s National Insurance) and personal levels of income tax. In particular a number may enjoy a high level of earnings that exceed the earnings cap. The Chancellor has announced that the earnings cap will increase to £95,400 for 2001/2002.

In respect of earnings over the earnings cap serious thought should be given to Funded Unapproved Retirement Benefits Schemes (FURBS). Whilst these arrangements offer no special initial corporation tax, NIC or income tax benefits (the contributions, usually, being deductible but assessable to income tax and, within the normal limits, NIC) they can offer

  • an income tax and capital gains tax reduced home for investments

  • IHT free payout to dependants on death of a member before taking benefits


  • benefits wholly in cash


Chancellor signals &#39Son of Myners&#39

Chancellor Gordon Brown accepted the recommendations of the Myners report into the relationship between fund managers and securities firms, which itself recommends a further review of personal investment products.The Myners review, published yesterday, says: “the Government should initiate a separate independent review of capital and information flows around personal investment.”

Net pension firm offers employee protection

Online stakeholder specialist Pensionsbusiness is revamping its web-based service to employers by offering group life insurance and group income protection to employees. Once an employer has selected a pension scheme online, they can then buy group life insurance and group income protection through Legal & General. Pensionsbusiness is an IFA firm which offers employers an […]

Tony Wickenden – Partner Technical Connection

BUDGET 2001 ARTICLEThis Budget was certainly one with few surprises. As such I am going to take a more oblique view of what some of the changes might mean and what action might be profitable for UK taxpayers in a few selected areas. Namely: The children&#39s tax credit Inheritance tax Capital gains tax Life assurance […]

AITC gets IFAs&#39 support in appeal for more cash to continue &#39its&#39 ads

The AITC is calling on members for more cash to fund the “its” campaign for an extra five years and has won support from leading IFAs. Speaking at the AITC annual conference in London on Tuesday, director general Daniel Godfrey said he wanted each company to donate up to 1.5 basis points of funds under […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm