A Golden Age? – Pension tax planning 2023/24 and beyond
90 min watch 20 Jul 23
After several quiet (ish) years, it’s been a tumultuous time in the tax world with much change from Budget 2021 through to Budget 2023.
With millions of new taxpayers, increased tax rates, changes to corporation tax, increased Annual Allowances and the abolition of the Lifetime Allowance there’s never been a time where it’s more important to understand the use of the pension tax wrapper in helping clients achieve their goals.
On this event Mark Devlin, Senior Technical Manager at M&G Wealth looked at how the current tax landscape affects clients and how pensions can help deliver good client outcomes.
The session qualified for up to 90 minutes structured CPD accredited by CII and CISI and now you should be able to:
- Describe the changing tax landscape for individuals and business owners
- Describe the operation of individual tax relief and identify those who can get higher than marginal rate relief
- Describe the tax benefits of employer pension contributions for Small and Medium sized Enterprise (SME) business owners
- Evaluate the impact on your client’s retirement planning of the pensions Lifetime Allowance changes arising from Finance Bill 2023
To claim your CPD certificate, test your knowledge with the questions below.
Write down your answers to each of the following questions and check your answers when you click to claim your CPD certificate on the link below
1. For companies with profits between £50,000 and £250,000 the effective rate of corporation tax is…
a) 19%
b) 26.5%
c) 25%
d) 40%
2. Death benefits received over the LTA and settled within two years will be taxable at what rate?
a) 0% on lump sums and 0% on income
b) 0% on lump sums and marginal rate on income
c) Marginal rate on lump sums and 0% on income
d) Marginal rate on lump sums and marginal rate on income
3. Individuals with the same level of adjusted net income will always get the same level of tax relief?
a) True
b) False
1. For companies with profits between £50,000 and £250,000 the effective rate of corporation tax is…
a) 19%
b) 26.5%
c) 25%
d) 40%
2. Death benefits received over the LTA and settled within two years will be taxable at what rate?
a) 0% on lump sums and 0% on income
b) 0% on lump sums and marginal rate on income
c) Marginal rate on lump sums and 0% on income
d) Marginal rate on lump sums and marginal rate on income
3. Individuals with the same level of adjusted net income will always get the same level of tax relief?
a) True
b) False
Before collecting your certificate, please take a moment to provide us feedback on this session, please email prudential.distribution.team@prudential.co.uk
Complete the form below and we’ll email your CPD confirmation to you. Please use the email address that you would usually use when contacting us.
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