HNWs considering working for longer following LTA removal

The majority of HNW individuals plan to take advantage of the tax change

Isabel Baxter
clock • 2 min read
HNWs considering working for longer following LTA removal

More than two thirds (67%) of high-net-worth (HNW) individuals are considering working for longer than planned after the removal of the lifetime allowance (LTA), according to the Saltus Wealth Index report.

In March's Spring Budget, chancellor Jeremy Hunt scrapped the LTA from 6 April 2023. He also raised the annual allowance from £40,000 to £60,000. The decision was an aim to tackle fears that the...

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Isabel Baxter
Author spotlight

Isabel Baxter

Senior Reporter at Professional Adviser

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