The pension lifetime allowance was scrapped last month at the start of the 2024-25 tax year. Chancellor Jeremy Hunt had previously announced the surprise move in last year’s Spring Budget ...

Getting an allowance has been a facet of many childhoods. Perhaps you earned a little pocket change in exchange for helping out around the house growing up, or maybe your parents allotted you a ...

No longer did they need to worry about the risk of going over the lifetime allowance (LTA) and incurring a tax charge on any pensions taken above that level. However, as with so many Budget ...

Some of the key rules relating to the pensions lifetime allowance are as follows. You don't have to pay lifetime allowance charges until you have used up the full £1,073,100 allowance, or a higher ...