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Tag Archives: lifetime allowance

Pension time bomb


Planning to prevent the financial equivalent of climate change Millions of workers across the UK could be heading for a significant shortfall in the amount of pension they need for an adequate income. The World Economic Forum (WEF) has issued … Continue reading

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Lifetime allowance


Value of payouts from pension schemes The lifetime allowance is a limit on the value of payouts from your pension schemes – whether lump sums or retirement income – that can be made without triggering an extra tax charge. The … Continue reading

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Money Purchase Annual Allowance


Reduction to prevent inappropriate double tax relief Chancellor of the Exchequer, Philip Hammond, delivered his first and last Autumn Statement to Parliament on Wednesday 23 November 2016.

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Lifetime allowance


Value of payouts from pension schemes The lifetime allowance is a limit on the value of payouts from your pension schemes – whether lump sums or retirement income – that can be made without triggering an extra tax charge.

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Annual and Lifetime Allowance


Annual Allowance The Annual Allowance is the amount you can pay into a pension fund each year and get tax relief. From 6 April 2016, the Annual Allowance will be tapered from £40,000 for those with earnings of £150,000 or … Continue reading

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Pension tax charge abolished sooner rather than later


New rules will simplify the existing regime from April 2015 The Chancellor, George Osborne, has brought forward the expected announcement on the tax charge that applies to certain individuals’ pensions on their death. The new rules will simplify the existing … Continue reading

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