Claire Trott: Decisions to make on annual allowance charge

Hopefully, most clients will have received their pension savings statements for the tax year 19/20 and will have been able to calculate if they have an annual allowance charge. Due to the tapered annual allowance many people are subject to an annual allowance charge, which can be a significant sum of money. Thankfully when we are looking at the year ahead, we should see fewer people impacted down to the increase in the threshold and adjusted income figures for 20/21 onwards. For those who don't meet the mandatory scheme pays rules, they may well have to find these funds themselves or ...