L&G launches marketing aids to promote 'carry back' rule

The “carry back” rule, which is abolished on January 31, allows clients to contribute in the current year but choose to have the payment to be treated, for tax purposes, as if it had been made in the preceding tax year. Earnings from any of the five previous tax years can be used to calculate a client’s total allowance. To try and encourage people to take advantage of the facility, Legal and General has produced letters and flyers for clients, along with a guide for advisers which covers the technical aspects of the rule changes for personal and stakeholder pensions, and retirement annuit...