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Personal Pension Schemes (Loan Facilities)

Volume 13: debated on Monday 16 November 1981

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asked the Chancellor of the Exchequer if the practice of providing loan facilities under personal pension policies is acceptable to the Inland Revenue.

[pursuant to his reply, 13 November 1981]: Retirement annuity contracts and occupational pension schemes are approved for tax purposes by the Inland Revenue if they meet the conditions, especially those relating to the sole or main object or purpose of the contract or scheme, provided for in the Taxes Acts.