Clients have been urged to “take advantage” of the opportunities presented to them by the removal of the lifetime allowance (LTA).
In a video explaining what the removal of LTA would mean for clients, Wren Sterling financial planning analyst Lucy Talbot said clients should take advantage of what is available to them now as there is always an element of political risk in financial planning. Chancellor Jeremy Hunt confirmed the abolishment of the LTA in the Spring Budget in March, allowing people to increase the annual amount that they can save into their pensions. As a result, the LTA charge have now been removed but the LTA itself will remain in force for the 2023/24 tax year. Talbot said clients should "not g...
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