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stakeholder boost for self-employed

Legal & General believes the self-employed will be able to reap an extra 30 per cent on to their pensions under the new proposals for stakeholder.


Responding to the Government&#39s consultation brief on taxation, the life office points out the self-employed&#39s pension contributions will be paid net.


Under existing rules the self-employed pay gross and claim their tax relief back via their tax returns. L&G&#39s research shows the majority do not re-invest it back into their pension plan.


With stakeholder, providers will claim the tax relief from the Inland Revenue on behalf of the self-employed and automatically invest it in their pension plan.


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