Lifetime allowance and tax protection: What it means for schemes

Naomi Rainey looks at the issues around FP14 and IP14 for employers and trustees

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This year, another change in the lifetime allowance (LTA) means another round of transitional tax protection.

From 6 April, LTA will reduce from £1.5m to £1.25m, giving rise to two HM Revenue and Customs (HMRC) categories: Fixed Protection 14 (FP14) and Individual Protection 14 (IP14). Much like their p...

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