Lifetime Allowance


Payments of the Lifetime Allowance tax charge – process chart

This flowchart illustrates the process and liability of any lifetime allowance excess payment and who pays the tax.
Camper van couple

The lifetime allowance excess charge

The LTA is the maximum amount an individual can accrue in their registered pension schemes. If these limits are exceeded there will be an LTA excess charge applied to benefits over this permitted maximum.
Couple on bench/by the sea

Transfer into a UK registered pension from an overseas pension scheme

A simple guide to the acceptance of an overseas transfer into a UK registered scheme with the general process required and potential for gaining an enhancement to the lifetime allowance.
Handing over papers

Fixed and Individual Protection 2016

With the lifetime allowance reducing from £1.25 million to £1 million on 6 April 2016, what new protections will be available for members of a pension scheme to help protect the savings that they have already built up?
Pen and glasses

Lifetime Allowance calculations for different forms of protection

A summary of the Lifetime Allowance calculations which should be used for different forms of protection.
People around desk

Tax-free cash under the lifetime allowance rules

With the introduction of Fixed Protection 2012, Fixed Protection 2014 and Individual Protection in addition to the existing Enhanced Protection and Primary Protection, this article is designed to summarise the calculations for each circumstance.
Pen and calendar

Lifetime Allowance calculations applicable after 5 April 2014

Table detailing the various lifetime allowance protections.

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