Technical update | 3 minute watch
Since 6 April 2024 the lifetime allowance has been replaced with...
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On 15 March 2023 the Chancellor of the Exchequer delivered his Spring Budget, which announced changes to pension tax relief including the bombshell of the abolishment of the Lifetime Allowance. Our Senior Technical Consultant, Lisa Webster, looks at the changes that have been confirmed in the Finance Bill for the 2023/24 tax year and considers what will happen in 2024/25. She examines the different scenarios for those that hold protection and the impact of changes to PCLS.
The value of investments can go down as well as up and your client may not get back their original investment. For professional advisers’ use only. Tax and pension rules apply.
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