Over the last few years, the government has steadily been reducing the lifetime allowance the amount you're able to accumulate tax-free in your pension. Any savings over the lifetime allowance are ...

The pension lifetime allowance was scrapped last month at the start of the 2024-25 tax year. Chancellor Jeremy Hunt had previously announced the surprise move in last year’s Spring Budget ...

(Leon Neal/Getty Images)Chancellor Rachel Reeves did not reintroduce the lifetime allowance but instead brought pensions into scope of inheritance tax. follow us on social Nothing stays the same ...

Some of the key rules relating to the pensions lifetime allowance are as follows. You don't have to pay lifetime allowance charges until you have used up the full £1,073,100 allowance, or a higher ...

More simply, Labour could continue the Tories’ old trick of freezing various allowances. When Hunt scrapped the lifetime allowance the fly in the ointment was freezing the tax-free lump sum at ...

2. Investors’ Relief: The lifetime allowance for gains eligible for this relief has been reduced to £1 million for disposals made on or after 30 October 2024. These changes make it more ...

IMPORTANT: This column was amended to make clear that there is no LTA implication for the recipient of an inherited pension Has your pension question been answered? Read Steve Webb's replies ...

April 2024 saw the lifetime allowance abolished and replaced with two new tax-free allowances, namely a lump sum allowance to govern lifetime lump sums and a combined allowance to govern both ...