AA and LTA changes - key points you need to know

Published by Bhargaw Buddhdev on

This briefing highlights the key changes to the annual allowance (AA) and lifetime allowance (LTA) that came into force from 6 April 2016.

On 6 April 2014 the AA reduced to £40,000 and on 6 April 2016 it was again reduced for high earners. The maximum level of benefits that an individual can draw from all registered pension schemes without incurring tax charges reduced to £1.25m from 6 April 2014 and reduced again from 6 April 2016 to £1m. The LTA increased to £1.03m from 6 April 2018 and will increase to £1.055m from 6 April 2019.

Download the briefing to find out more.