Protection pots

The pensions tax simplification changes introduced from 6 April 2006 already seem a long time ago. While the utopia of simple pensions wasn't achieved, flexibility was improved especially around the payment of contributions. However, the introduction of the lifetime allowance means that people with significant funds can be taxed heavily with more than half of their excess funds being wiped away. However, individuals who had large funds built up before April 2006 can protect their benefits and avoid all, or most, of this tax hit. Crucially, the deadline for registering for this protectio...