We now have a plethora of lifetime allowance (LTA) protection regimes. These have effective dates falling in either 2006, 2012, 2014 or 2016 - the years in which the LTA was either first introduced, or subsequently reduced.
When might protection be lost? The answer to this varies and depends on which type of protection a member holds. When must a member inform HMRC? Again, the legislation differs for the various types of protection, which this briefing note explores in detail.
Can protection be reinstated if lost by mistake? We examine the judgement in Hymanson v HMRC (2018) and ask whether this makes further challenges to the loss of LTA protections more likely.
To continue reading, please download the briefing note below.