Fresh LTA rule update gives advisers clarity but questions remain

February HMRC newsletter gave LTA update ahead of 6 April abolition

Jenna Brown
clock • 1 min read

HM Revenue & Customs (HMRC) has issued a further update to the post-lifetime allowance (LTA) abolition rulebook ahead of its removal on 6 April.

With less than two months to go before the changes, HMRC's February newsletter gave "welcome clarification" to the rules for those responsible for advising clients, according to Royal London pensions expert Clare Moffat. She said: "This is especially true in relation to transitional tax-free amount certificates, which we receive the most queries about, along with questions on the implications of the changes on those who have already taken benefits but who will take more after 6 April." However, Moffat said there were still unanswered questions.  "HMRC state that more information wi...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

AJ Bell sells Platinum SIPP and SSAS business in £25m deal

AJ Bell sells Platinum SIPP and SSAS business in £25m deal

InvestAcc Group takes over £3.2bn book of business

Jenna Brown
clock 27 March 2025 • 1 min read
Spring Statement 25: 'As you were' following pensions exclusion

Spring Statement 25: 'As you were' following pensions exclusion

Pensions were notably lacking from today's Spring Statement

Holly Roach
clock 26 March 2025 • 4 min read
Majority of pension savers would use digital advice from providers

Majority of pension savers would use digital advice from providers

Some 73% of workplace pension savers want advice from providers

Jenna Brown
clock 24 March 2025 • 2 min read