Guarantees – Cape Academy

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Introduction & key terms

Individual Contributions and the provision of tax relief

Relevant individuals and earnings
Provision of tax relief
How tax relief is awarded
Self Employed – Timing of tax relief
Salary vs Dividends
Salary Sacrifice
Recycling the pension commencement lump sum

Employer Contributions and the provision of tax relief

Provision of tax relief
Spreading table

Pension Input Period

Annual Allowance

Annual Allowance
Tapered Annual Allowance
Carry Forward
Triggering MPAA Rules
Not triggering MPAA
MPAA triggered with contributions
MPAA triggered part way through PIP
MPAA in practice

Lifetime Allowance

History of LTA
Benefit Crystallisation Events
After the BCE test
Pre A Day benefits
Post A Day benefits
Higher Lifetime Allowance
Divorce Pre April 2006
Divorce Post April 2006

Tax treatment of member benefits

Member Benefit options
Minimum Pension Age
Lump Sum Benefits
Small Pots Payments
Trivial Commutation lump sum payments
Serious ill health commutation
Income

Tax treatment of death benefits

Who they can be paid to
Uncrystalised or unused funds
Defined Benefit Scheme
Annuity
Drawdown pension
Trivial commutation
Charity
Guarantees
Dependent’s scheme pension
Survivor’s lifetime annuity
Dependent’s capped drawdown
Dependant’s, nominee’s or successor’s flexi-access drawdown
Inheritance tax treatment

Transitional Reliefs

Overview
Primary Protection
Enhanced Protection
Fixed Protection 2012
Fixed Protection 2014
Fixed Protection 2016
Individual Protection 2014
Individual Protection 2016
Pension Credits
PCLS and Primary Protection
PCLS and Enhanced Protection
Scheme Specific PCLS Protection
Transitional Protection and Auto Enrolment

Tax treatment of pension fund investments

Tax treatment

Unauthorised payments

What are they

Tax treatment of overseas pension schemes

Types
QROPS
Transferring to a QROPS
Member payment charge
Overseas pension scheme from 6th April 2015
Temporary non residence
Uncrystallised funds pension lump sum
Annual Allowance

Tests

Return to Solo 2 (RO4) course

Guarantees

HMRC don’t place restrictions on who can receive a payment under a guarantee

Tax treatment is as follows:

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