HMRC issues guidance on abolition of pensions lifetime allowance
Published by Michael Graves on Wed, 12/04/2023 - 12:00amHMRC recently issued preliminary guidance in regard to the abolition of the pensions lifetime allowance.
At the Spring Budget, Chancellor Hunt announced that the lifetime allowance charge will be removed from 6 April 2023. The allowance will be fully abolished from the 2024/25 tax year via a future Finance Bill, HMRC said.