Clients should 'take advantage' of the removal of LTA

Clients told to capitalise on abolition of lifetime allowance

Sahar Nazir
clock • 2 min read

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...

To continue reading this article...

Join Professional Adviser

  • 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 Your profession

Majority of IFAs 'concerned' about artificial intelligence

Majority of IFAs 'concerned' about artificial intelligence

Three in five believe regulations on use of AI tools should be made stricter

Sahar Nazir
clock 08 December 2023 • 2 min read
Model portfolio services outperform adviser platform market

Model portfolio services outperform adviser platform market

NextWealth says 41% of advisers expect to increase MPS use next year

Sahar Nazir
clock 08 December 2023 • 1 min read
PA Working Lunches: Register today to hear from Schroders

PA Working Lunches: Register today to hear from Schroders

Join us for an informative session worth one hour of CPD

Professional Adviser
clock 08 December 2023 • 1 min read