My client has been paying pension term assurance (an old S.226a policy). He has no actual pension provision and now wants to mop up the last three years' unused relief. As it is only permissible to carry forward if the client was a member of a pension scheme during the three previous years, my concern is whether the term assurance qualifies as a pension scheme for carry forward purposes. Can anyone point me in the right direction?
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Ae you sure
"As it is only permissible to carry forward if the client was a member of a pension scheme during the three previous years".
I thought one could carry forward the relief, less any used. If non used then all is available.As to pension term relief I thought this has been phased out but why not check with the insurer.
Thank you
One learns something everyday. Although a bit self-defeating as the Govt want us to make as many contributions as possible....
As to the Pension Term insurance - I still suggest you contact the insuere.