ASP pot must be emptied to avoid tax warns Winterthur

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Although Budget changes mean any residual funds from ASP will be taxed at around 82%, Mike Morrison, pension strategy director at Winterthur, says the key is to make sure there is no money left in the pot to trigger the tax charge.

In his presentation at Winterthur's recent adviser roadshow, Morrison says the decision to treat the leftover funds as an unauthorised payment was “more radical than we thought”. Morrison comments: “An...

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