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3.11 Free Standing AVCs (FSAVCs)
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Similar to AVCs with a number of additional points.
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It is permissible to contribute to only one contract each tax year.
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When annual contributions exceed £200 p.m. gross (£2,400
p.a.) there is a 'headroom' check to ensure maximum benefits are
not being exceeded.
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The contract is separate from the main scheme, with contributions
being paid net of basic rate tax direct to the provider from the
planholder (higher rate taxpayers can claim additional 18%, 2004/2005).
- Charges are borne by member but a wider choice of funds are available
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