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Prejudice Prevails Without Pride

John Hayward pension consultant considers the background to the Chancellor's Pre-Budget Report's curbs on recycling tax-free lump sums to and residential property in pension schemes
Whilst the Chancellor's proposals to curb investment in residential property and pride in possession assets (personal chattels) under the new pensions regime commencing on 6 April 2006 (A Day) have hit the headlines and form the basis for most of this article his proposals to prevent the recycling of tax-free cash lump sums (TFCLS) seem to have hardly raised an eyebrow.
Recycling lump sums
The technical note issued with the Pre-Budget Report (PBR) of 5 December 2005 explains that measures will be introduced in FA...

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