Tag Archives: LTA
Beware HMRC! You may need to CERTIFY before you draw your pension cash
Credit to Jo Cumbo for alerting us to a difficult issue for those lucky enough to have pension savings that can produce tax-free cash over the tax free cash allowance of £268,275. Credit is due despite the trolling of her … Continue reading
No bear traps from the LTA abolition
My immediate reaction when reading the latest state of play on the Lifetime Allowance abolition was to wonder why anyone is going to get unduly worked up about it. There appear to be relatively few cliff edges for the … Continue reading
Labour’s “securenomics” spell Long Term Assets not Life Time Allowance
If Edmund Truell had been the next Labour Chancellor (unlikely), I would have expected him to have produced a pension policy paper called “Financing Growth”. Four years ago, as the Labour party recovered from one of its worst election defeats, … Continue reading
The perils of being wealthy with a pot
Thanks to of M&G’ Kirsty Anderson for this helpful explanation of why it’s so touch being wealthy It seems that scrapping the LifeTime Allowance has led to the emergence of three more “allowances”, which of course aren’t allowances but restrictions … Continue reading
A stealthy wealth tax – outed by LCP
The Treasury has proposed that pensions will be taxed where the saver dies before age 75. This is how the Treasury introduce the idea Schedule 32 sets out that the payment of an UFLSDB or DBLSDB is a BCE where the member dies under age … Continue reading
Labour should pick its fights – capping people’s pensions should not be one of them
Labour says re-instating the #pensions lifetime cap would be prudent for the nation’s finances. via @telegraph https://t.co/Q0j0P07OtU — Josephine Cumbo (@JosephineCumbo) April 23, 2023 There are many things wrong with our pensions system, but removing a cap on people’s pensions … Continue reading
Posted in pensions
Tagged Labour, LTA, Matt Rodda, Pension Policy, Pensions, Rachel Reeves, Reynolds
2 Comments
Top lawyer warns against precipitous action over LTA (shock)
Rosalind Connor’s presentation and Q&A on the taxation changes to pensions in this year’s Finance Bill make for a good watch. As usual we’ve made the session available to those who couldn’t make it yesterday – and it was great … Continue reading
Claire’s pension tax headaches aren’t over!
I’ve been asked to write a case study on the issues people have as they approach retirement with well funded pensions and pension pots and plans put in place to combat the impact of the Lifetime Allowance (LTA). This is … Continue reading
Labour vows to put the lid back on the pension pot.
Just when you thought it was safe to go back in the water…. NEW: Labour confirm they would reverse the decision to scrap the pensions lifetime allowance cap. They call it “the wrong priority, at the wrong time, for the … Continue reading
A budget for pensions that are “victims of their own excess”
Today is budget day and by lunchtime we will know whether the strong rumors that the Lifetime Allowance and Annual Allowance will be adjusted upwards are true. We will also know if the less palatable options around increasing the minimum … Continue reading