Neil MacGillivray: Annual allowance and 'scheme pays' explained

Scheme pays or not scheme pays?

Neil MacGillivray: "Although Gregor has until the 31 July 2021 to notify the scheme that he wishes to make use of scheme pays, he still has to account for the full charge in his tax return and pay the non-mandatory element by 31 January 2021."
Neil MacGillivray: "Although Gregor has until the 31 July 2021 to notify the scheme that he wishes to make use of scheme pays, he still has to account for the full charge in his tax return and pay the non-mandatory element by 31 January 2021."
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Neil MacGillvray explores the options for paying the pension annual allowance charge and asks if the 'scheme pays' route is the most efficient for clients...

At this time of year, questions from advisers on the annual allowance (AA) and the AA charge come into my team thick and fast. For most people, the AA is of little concern as they're unlikely to ever...

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