Although the lifetime allowance was effectively abolished from April 2023 as the lifetime allowance charge was removed, it has been retained on statute for a year to allow time for the intricacies to be ironed out. Draft legislation, to take effect from 6 April 2024, has now been published.
Abolishing the pensions lifetime allowance
- Accounting Services in England
Michael Parkinson
silverMichael is a silver memberPartner, Barnes Roffe LLP