Time is ticking: The voluntary scheme pays late summer deadline

There are two types of 'scheme pays' advisers should know about

clock • 3 min read

Lisa Webster explores scheme pays options in her latest technical article for Professional Adviser...

With the increases to all three pension annual allowances kicking in from the start of the tax year, much higher amounts can now be paid into pensions without fear of a tax charge arising. Potential charges aren't eliminated completely - just less likely going forward, and where they do arise, they are likely to be at a lower value. The complex tapered annual allowance still exists, but with tapering only starting on income above £260,000 far fewer people will be impacted. Even those with the very highest incomes can now put in £10,000 before charges arise. Those who've flexibly acces...

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