Forestall rules will hit transfers with 20% tax

Pow, Helen
June 2009
Money Marketing;6/25/2009, p3
The article reports on the impacts of the Budget's draft anti-forestalling measures on the pensioners in Great Britain. Transferring to a new pension provider will cost the clients their contribution history and an additional 20 per cent tax charge on above £20,000 contributions, even if more than this amount have been saved in a regular basis. Nathan Bridgeman, Talbot & Muir director, noted the rule is very disadvantageous to the clients and defeats the whole spirit of simplification.


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