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bigduckontax
bigduckontax, Accountant
Category: Tax
Satisfied Customers: 4346
Experience:  FCCA FCMA CGMA ACIS
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I have a Pensions Life Time allowance problem arising at my

Customer Question

I have a Pensions Life Time allowance problem arising at my 75th, birthday in August.
A rough calculation suggests my LTA is exceeded at 129%. Is there anything that can be done to alleviate the position?
Submitted: 1 year ago.
Category: Tax
Expert:  bigduckontax replied 1 year ago.
Hello, I am Keith, one of the experts on Just Answer, and pleased to be able to help you with your question. Your lifetime allowance as at 5 April 2016 is 1.25m. This reduces in 16/17 to 1m. It is anticipated that protection will be available for a pot up to 1.25m. zi do hope that I have been able to shed some light on this position.