Hope you are well.

I am currently working in York – fantastic place, 75 real ale pubs in city – probably there until end of September, so lots to do!

Wonder if you can throw some sense on a drawdown query I have come across. Skandia have published notes suggesting that if you take max GAD during a payment year but a further crystallisation is made during same year when GAD rates are lower, the recalculated (lower max GAD) is deemed to apply for that payment year rendering part of the max GAD payment taken an unauthorised payment. If true, it is unfair to restrospectively apply a max GAD limit – either Skandia has made a booboo or HMRC not thought it through properly (latter would not surprise me!)

Any thoughts?

On the racing front watch out for Cupids Glory if he turns out again. Had been stalking him following his move to Gary Moore (after Linda Jewell had managed to bring about a 30lb deterioration in his handicap mark). Now accustomed to the AW could go in again with a 6lb penalty if reappears soon. He paid for my recent night out in York on Thursday!

Hope you are well – what are you up to these days FP or otherwise?

Kind regards

Mike Smith