The Autumn Statement confirmed that the lifetime allowance (LTA) will be abolished from 6 April 2024 (“L-Day”). The legislation to achieve this is contained in the Finance Bill, issued on 29 November, ...

Pensions tax is never simple, and the legislation abolishing the lifetime allowance (LTA) on 6 April 2024 (“L-Day”) bears this out. Regulations issued mid-March correct some, but by no means all, of ...

What is the pensions annual allowance in 2025-26? When you save into a pension you benefit from tax relief, which means you don't have to pay income tax on the contributions. However, the government ...

Ahead of the Budget announcement, Trafalgar House’s Karla Bradstock explores the current state of play with the lifetime allowance. Last year’s autumn statement confirmed that the lifetime allowance ...

In April 2006, the government introduced a lifetime limit on the amount that can be held in a pension free of tax. Today, the lifetime allowance is £1.25m. People who have, or expect to have, more ...

At the start of the new tax year, the standard lifetime allowance for pension savers will be reduced for the second time since 2011, from £1.5m to £1.25m. This change, which will come in from 6 April, ...

When someone retires, the amount crystallised on a ‘benefit crystallisation event’ will show if they are breaking through the lifetime allowance of £1m, but some can avoid that by protecting a higher ...