Time is ticking: The voluntary scheme pays late summer deadline

There are two types of 'scheme pays' advisers should know about

clock • 3 min read

Lisa Webster explores scheme pays options in her latest technical article for Professional Adviser...

With the increases to all three pension annual allowances kicking in from the start of the tax year, much higher amounts can now be paid into pensions without fear of a tax charge arising. Potential charges aren't eliminated completely - just less likely going forward, and where they do arise, they are likely to be at a lower value. The complex tapered annual allowance still exists, but with tapering only starting on income above £260,000 far fewer people will be impacted. Even those with the very highest incomes can now put in £10,000 before charges arise. Those who've flexibly acces...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Petition pushing government to protect pension tax incentives gets 3,000 signatures

Petition pushing government to protect pension tax incentives gets 3,000 signatures

AJ Bell pushes to end ‘damaging speculation’ on tax-free cash and reliefs

Jenna Brown
clock 07 October 2025 • 2 min read
Standard Life launches 'affordable' pensions-focused advice arm

Standard Life launches 'affordable' pensions-focused advice arm

For existing Standard Life customers approaching retirement

Jenna Brown
clock 06 October 2025 • 2 min read
Clients need 'tailored approach' ahead of IHT on pensions

Clients need 'tailored approach' ahead of IHT on pensions

IHT ‘coming up more and more’ in conversations with clients

Sahar Nazir
clock 03 October 2025 • 2 min read