19 May 2008                                

ALLIANCE TRUST HELPS ADVISERS MAKE THE MOST OF NEW PENSIONS RULES

 

Alliance Trust Savings has added a webcast and bulletin to help advisers make full use of new options for transferring in-specie assets into pensions plans. Pensions rules were relaxed in April 2006 and the industry saw a flurry of last-minute in-specie transfers of assets into SIPPs ahead of the introduction of the single capital gains tax rate of 18% in April 2008.

 

However, Pensions Development Manager Steve Latto said, “Not all advisers are aware of the full extent of alternatives now open to them when they are considering in-specie contributions or transfers. The new rules do offer more freedom for this kind of transfer and this may be useful when an adviser wants to either protect an investment from any future income tax or CGT liability, obtain tax relief or generate additional cash outside a pension plan without selling an investment.”

 

In its latest Pensions Bulletin Alliance Trust Savings sets out the alternatives open to advisers if they wish to carry out an in-specie transfer or contribution into a SIPP. The bulletin also explains the differences among the three alternatives, which are sale and repurchase, in-specie transfer or contribution, as well as the advantages and disadvantages of each.

 

Latto said, “Since there are a number of options available to SIPP members who are looking to transfer investments that they own into their pension fund, advisers have a key role to play in ensuring that the most appropriate method is selected. A-Day has brought a greater range of alternatives and advisers need to advise clients of all the benefits, costs and risks associated with each choice they have.”

 

A full explanation is contained in the Pensions Bulletin called ‘SIPPs: in-specie transfers and contributions’ and in a webcast that is available on the Adviser Centre of Alliance Trust’s website at www.alliancetrust.co.uk/adviser

 

To request future e-newsletters from Alliance Trust Savings please email businessdevelopment@alliancetrust.co.uk or you can register for all our additional services on the adviser centre at www.alliancetrust.co.uk/adviser

 

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Contacts

Jane Holligan, Media Relations Manager          Anna Schirmer / Stuart Lerman / Anna Moulds

Alliance Trust                                                   Lansons Communications

Tel  +44 (0)1382 306064                                   Tel  +44 (0)20 7294 3605 / 3674 / 3681

Mobile  07745 783212                                      Email  alliancetrust@lansons.com

Email  jane.holligan@alliancetrust.co.uk      

Web  www.alliancetrust.co.uk 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  1. Alliance Trust Savings offers investment dealing and pensions to individual investors and their advisers through its enhanced wrap platform. Alliance Trust Savings provides sharedealing, investment wrapper accounts such as ISAs, a full range of Self-Invested Personal Pensions, and accounts for investing for children such as First Steps and its Children’s SIPP.

  2. Alliance Trust Savings is one of the UK’s top ten SIPP providers by number of accounts. It offers a full range of SIPPs from the sharedealing Select SIPP, which allows a choice of more than 3,000 investments, to the Full SIPP that permits investment in commercial property and other assets.

  3. Alliance Trust Savings administers assets on behalf of more than 53,000 customers (at end March 2008)

 

  1. Photographs of Steve Latto are available.