Since its introduction, the LTA has effectively capped the amount of tax-relievable savings that individuals can build up in registered pension arrangements. We look at the lessons to be learnt and the way you can avoid losing a protected pensions allowance.
Nilesh Shah, Associate, outlines the need to utilise any unused annual allowance before it is too late.
The 31 January deadline for paying tax for 2016/17 has now passed. Senior staff now have to think ahead to the end of the current tax year, ending on 5 April 2018.
In this blog, we consider some of the options open to the Chancellor, the loose ends still to be tied up and some of the steps that individuals might consider in advance; in case options are restricted on 22 November.
There have been numerous changes to the Lifetime and Annual Allowances over the past few years, and the multiple options to protect those allowances have equally been revised and updated too, resulting in ever-increasing complexity.