SIPPs: a whole new level of tax planning

With the wealth of information freely available on the internet, and with Retail Distribution Review models kicking in, advisers may be looking for additional ways to demonstrate value when advising their high net worth clients. The tax reliefs available when contributing to pensions are well known, but the flexibility of a full self-invested personal pension (SIPP) can take tax planning to a whole new level. An enquiry we received towards the end of the tax year is a case in point. An adviser’s client, a higher rate tax payer, whose income included £30,000 from personal ownership of ...