Many doctors should now have received their annual allowance statements containing the McCloud remedy recalculations.
This will show the changes of your pension growth and therefore your annual allowance position, for the seven years of the McCloud ‘remedy period’ from 2015 to 2022.
But what should you do now? Firstly, it is very important to check that the recalculations sent to you are correct. As you can imagine, the propensity for error with such complex figures is high and minor mistakes can lead to larger problems later if left unchecked.
Make sure you have specialist support when dealing with these complicated financial areas. They will know what to look for on the statements and what tiny errors may be hidden.
Once you have your statement, you should forward it to your adviser at the earliest opportunity.
The statements have been considerably delayed but at present, no extension has been granted to the usual January tax submission deadline.
Approver Quilter Financial Services Ltd & Quilter Mortgage Planning Ltd 31/10/2024
