Lump sum tax allowances - a further liberalisation of pension taxation

Fieldfisher’s Jeremy Harris urges schemes to take account of the new allowances

clock • 4 min read
Fieldfisher pensions partner Jeremy Harris
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Fieldfisher pensions partner Jeremy Harris

The lifetime allowance (LTA) tax charge was abolished in April this year, and this abolishment imposed a 55% tax charge on lump sum benefits, taking individuals over their LTA (the limit on their c...

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