IFAs have to start preparing both their clients and themselves for coming pension tax simplification reforms, despite not knowing the final details or if the proposal will go through at all, says Stewart Ritchie, pensions development director at Scottish Equitable.
In his latest Ritchie Papers (No. 85, 86, 87) out today, Ritchie cautions advisersnot to just sit on the fence while awaiting the government's final proposal regardingthe Inland Revenue's simplification paper, but take action NOW as it will affectthe advice they will be giving their clients. Ritchie says: "Advisers must not let the action embargo lead to a planning embargo. The urgent advice issues are not just about high earners. Anyone able to take their pension between now and A-day will have to consider whether they would be better to delay until after April 2005. To help IFAs pla...
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