The number of people who have been caught by the annual allowance (AA) and lifetime allowance (LTA) limits on pension tax relief rose sharply in 2021/22, according to analysis of latest HM Revenue & Customs (HMRC) statistics.
Pension consultant LCP said the increase was part of the reason the chancellor "felt forced" to relax the rules considerably in the March 2023 Budget. The LTA was scrapped altogether during that sp...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership for 12 months, providing you access to:
- 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
