Lifetime allowance and tax protection: What it means for schemes

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

clock

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...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Law and Regulation

PRAG consults on pensions SORP amendments

PRAG consults on pensions SORP amendments

Move follows FRC amendments to FRS 102 as well as changes to legislation and regulation

Jonathan Stapleton
clock 24 June 2025 • 1 min read
PLSA: The Virgin/NTL Court rulings and what they mean for DB Schemes

PLSA: The Virgin/NTL Court rulings and what they mean for DB Schemes

Krista D’Alessandro outlines the background to the case and what the rulings mean for schemes and sponsors

Krista D’Alessandro
clock 24 June 2025 • 4 min read
How does your scheme culture affect your risk profile?

How does your scheme culture affect your risk profile?

Naomi Brown takes a look at the human factor and asks how risk links with culture

Naomi Brown
clock 20 June 2025 • 3 min read
Trustpilot