BKL
40% Tax Relief on life assurance!


Amidst all the changes made to the rules governing Personal Pensions, one area that received little attention was that regarding life cover written under a Personal Pension.

The new rules restrict the amount of pension contribution that can be used to purchase life cover to 10% of the total annual contribution compared to 5% of net relevant earnings pre 6/4/01.

Although a number of Life Assurance companies have decided not to offer this contract anymore, it is still available from some providers and it is therefore possible to obtain 40% tax relief on Mortgage Protection, Term Assurance and Family Income Benefit policies. 

Make sure you consider this route when reviewing personal protection policies.

 


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Berg Kaprow Lewis LLP is an independent member firm of the UK 200 Group of Chartered Accountants, with offices throughout the UK and overseas. Registered to carry on audit work and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales. Berg Kaprow Lewis LLP is a UK limited liability partnership incorporated under the Limited Liability Partnerships Act 2000. A list of members of the LLP is available at 35 Ballards Lane, London, N3 1XW, ENGLAND
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