Focus 111 – Tax Year End 2018

With the 2018 tax year end in sight, can we assist with any end-of-year tax contributions?

Over the years, we have seen scope for contributions steadily curtailed as the Annual Allowance has decreased to £40,000, with further reductions for those taking Flexi Access Drawdown (and other forms of pension income) and High Earners. This, together with carry forward allowances, can complicate what should be a straightforward exercise.

If any members wish to make additional contributions to an existing SIPP with us by direct credit or cheque, the cut-off date will be Thursday, 29th March 2018. Where a new SIPP is established and an initial contribution is paid by cheque (payable to ‘Talbot & Muir SIPP re Client Initial and Surname’), our cut-off date for an online application (receipted by us as correctly completed, with a signed declarations form and cheque) is Tuesday, 27th March 2018.  If employer contributions are made then we would also need supporting AML documents for the company making the contribution.

All SIPPs set up online have a zero set-up fee, and there will be no contribution fee for any single contributions at set up.

If you have any further questions or there is anything we can assist with, please contact your Business Development Consultant or the Adviser Support Team.

Business Development Team

David Bonneywell, Director, 07771 986 539

Michael Hurley, London, 07826 067 563

James Cannon, North West, 07539 121 220

Gemma Fenton, Wales/South West, 07940 254 064

Adviser Support Team