Lifetime allowance: The £1.25m question

Helen Morrissey looks at the impact of the LTA falling to £1.25m at the end of this tax year

Helen Morrissey
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In April 2014 the lifetime allowance will drop to £1.25m, and employees likely to breach this amount will need to start thinking about how best to protect their pension pot.

Pension pots above this level could find themselves subject to a 55% tax charge on the residual amount. While those with large pensions clearly need to make provisions, figures from HMRC show we...

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