Finance Bill LTA provisions leading to 'patch and mend job' ahead of new tax year

Finance Bill is set to receive Royal Assent today but LTA provisions remains a concern

Jonathan Stapleton
clock • 2 min read
David Everett: Pension administrators have had next to no time to adjust their systems, processes and member communications
Image:

David Everett: Pension administrators have had next to no time to adjust their systems, processes and member communications

Finance Bill lifetime allowance (LTA) provisions are a “rushed job” that will lead to “challenging” timescales for administrators and a “patch and mend job” through regulations ahead of the new tax year, industry figures say.

This year's first Finance Bill, containing the abolition of the LTA and its replacement by two new lump sum allowances, is to receive Royal Assent today, having completed all its parliamentary stag...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

More on Admin / Technology

Administration 'critical' to whole pensions ecosystem, says TPR

Administration 'critical' to whole pensions ecosystem, says TPR

Regulator understands challenges industry faces and wants to help ‘mitigate risks’

Holly Roach
clock 24 March 2025 • 1 min read
Industry adoption of AI 'widespread', says SPP

Industry adoption of AI 'widespread', says SPP

Society’s survey finds 87% of industry have incorporated AI in some capacity

Martin Richmond
clock 17 March 2025 • 2 min read
PP launches 2025 Administration Survey

PP launches 2025 Administration Survey

Survey looks to track industry attitudes to both in-house and outsourced administration.

Professional Pensions
clock 14 March 2025 • 1 min read
Trustpilot