This presentation starts by covering off some technical aspects of the AA such as how it interacts with tax relief, carry forward, the taper and the MPAA. The options for paying any AA tax charge as discussed also.
Staying in a scheme and paying the AA tax charge is considered versus opting out of the scheme. Our policy paper discusses more examples.
Regulatory points around the clients’ best interests and opting out are also discussed.
Learning Objectives - At the end of this session you will have an understanding of:
• how the annual, money purchase, and tapered allowances work
• the operation and advantages of “scheme pays”
• how to calculate whether an opt-out is suitable
• other factors impacting suitability
• regulatory requirements