1985 | OriginalPaper | Chapter
Preparing for Retirement
Authors : Bill Packer, MA, FCA, Colin Sandy, ATII
Published in: The Touche Ross Tax Guide for the Self-Employed
Publisher: Palgrave Macmillan UK
Included in: Professional Book Archive
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Retirement is a long way into the future for David Wiltshire — why should he have to think about it at all? Obviously he cannot go into an occupational pension scheme as described in 4.4.6 as this is open only to employees; but it is possible for those individuals in self-employment or employees not in a pensionable employment to obtain tax relief in respect of premiums paid to secure a retirement annuity provided it is in a form approved by the Inland Revenue. It is also possible to claim relief on premiums paid to obtain an annuity for a widow or other dependent relatives.