Legal & General and Clerical Medical are promoting the last chance use of carry-forward through the ...
Legal & General and Clerical Medical are promoting the last chance use of carry-forward through the offer of a carry-forward/carry-back calculator on CD-Rom.
Legal & General has started a marketing campaign to intermediaries, highlighting the remaining opportunities to take advantage of the carry-forward and carry-back allowances before they are abolished.
The life company will provide sales aides to intermediaries from the end of September until January next year.
The facility to carry-forward allowances was abolished at the end of the last tax year but individuals will be able to use the allowance until 31 January 2002 by combining it with carry-back, which is only ended then.
This will work because the carry-back can be treated as being in the 2000 to 2001 tax year, which means contributions will be treated as being in that year and the rules for that year will still apply.
In addition to sales aids, Legal & General will send a carry-forward/carry-back calculator on disk. This software will enable advisers to work out clients' entitlements and enter details onto an Inland Revenue form that can then be printed and sent off.
Clerical Medical's CD-Rom will include an interactive training module to help advisers illustrate how a client can make the most of carry-back/carry-forward, combining the two, guidance on the timing of tax relief and pre-populated Inland Revenue forms.
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