The proposed removal of carry forward/back as of April 2001 will not affect Retired Annuity Plans (R...
The proposed removal of carry forward/back as of April 2001 will not affect Retired Annuity Plans (RAPs). The Government's consultation document released in September suggested that this tax planning tool will be removed on pension products within its proposed over-arching defined contributions regime. This would include stakeholder, GPPs, personal pensions, Sipps and SSASs. However, the Government has left RAPs outside this regime and therefore, carry forward/back could still be utilised by that vehicle. Since the emergence of personal pensions in 1988, no new RAPs have been sold. R...
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