Displaying items by tag: lifetime allowance

Wednesday, 21 October 2020 10:34

Pensions LTA to rise by 0.5% in 2020/21

The Pensions Lifetime Allowance is set to rise by £5,800 to £1,078,000 next year following news today of the latest CPI inflation rate of 0.5%.

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Thursday, 09 July 2020 11:10

83% of Financial Planners want LTA scrapped

Over three quarters (83%) of Financial Planners want the Lifetime Allowance (LTA) scrapped due to the complexity of the rules and protections, according to a new poll.

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Friday, 12 April 2019 11:52

12,000 savers lose lifetime allowance protection

Thousands of pension savers have breached lifetime allowance ‘protections’ in the past 12 years, potentially landing themselves with tax bills running into hundreds of thousands of pounds.

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Tuesday, 19 February 2019 12:08

Ruling could land HMRC with lifetime allowance claims

A recently-published court ruling could open HMRC up to new claims from investors who accidentally lose lifetime allowance ‘protection’ by forgetting to stop paying contributions to their schemes.

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Monday, 22 October 2018 13:06

Lisa Webster: Lifetime allowance changes explained

Lisa Webster, Technical resources consultant

With September’s CPI figures now being released we know what next year’s Lifetime Allowance (LTA) will be - £1,054,800. Whilst hardly a dizzying increase we are at least crawling in the right direction after years of being pegged back. I get a few surprised looks when I remind people that the original version of Finance Act 2004 included a clause that the standard lifetime allowance could only increase.

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Monday, 20 November 2017 15:16

Most advisers want lifetime allowance axed

Most advisers want Treasury to scrap lifetime allowance

Nearly six out of 10 financial advisers want the pensions lifetime allowance abolished, according to a poll of 102 advisers by SIPP provider Momentum.

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Wednesday, 27 May 2015 09:10

MacGillivray Blog: AMPS conference a great success

Neil MacGillivray, chairman of the Association of Member-directed Pension Schemes and head of technical support at James Hay Partnership

This year's AMPS annual conference was a great success with a 120 attendees and a wide and varied range of subject matter covered. As always there were number of topics which will be of interest to advisers.

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Wednesday, 22 April 2015 12:26

MacGillivray Blog: If Einstein thought income tax was hard what chance do we have?

Albert Einstein once said that "the hardest thing to understand in the world is income tax".

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Tuesday, 31 March 2015 12:05

MacGillivray Blog: The Grand Old Duke of Pensions

The recent Budget announcement by the Chancellor that he would reduce the Grand Old Duke of Pensions - the lifetime allowance (LTA) - to £1m from 6 April 2016 will mark the eighth change in the LTA since its introduction in 2006 and this excludes personalised LTA afforded by certain forms of protection.

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Wednesday, 18 March 2015 14:42