Four-fifths of advisers struggle to calculate tapered annual allowance - Suffolk Life

The self-invested personal pension (SIPP) provider said the majority of advisers were struggling to work out a client's income down to the pound, which was necessary when working out a tapered annual allowance.  Of the 84% of struggling advisers, 41% were able to calculate thresholds and adjusted incomes before the end of the tax year for some clients, while 43% were unable to complete the calculations for all or most clients. The SIPP firm found half of the 175 advisers it surveyed at its ‘Why SIPP it?' roadshows in May and April therefore had clients who contributed to their pension...