Using SSASs for business benefits

The last budget removed carry-forward and carry-back reliefs on pension contributions, but directors can still use alternative pension schemes and benefit their own business in the process. While many individuals were probably advised by their advisers to maximise their pension contributions and use up any remaining reliefs before 5 April 2001, the key date is actually 31 January 2002 ' the deadline for 2000/2001 tax returns. Certain contributions reported on that tax return can be carried back. Not everybody will be in a position to use up their unused relief and, as a result, any...