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 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 Your profession

Government's FOS reforms 'a mixed bag'

Government's FOS reforms 'a mixed bag'

Some changes appear to be ‘lacking in any substance,’ commentators say

Isabel Baxter
clock 16 July 2025 • 4 min read
PA360 North: First speakers revealed!

PA360 North: First speakers revealed!

Event returns to Warrington later this year

Professional Adviser
clock 16 July 2025 • 1 min read
FCA fines Barclays £42m over anti-money laundering failings linked to WealthTek

FCA fines Barclays £42m over anti-money laundering failings linked to WealthTek

Bank accused of missing basic due diligence checks as £34m was deposited into WealthTek client account

Sahar Nazir
clock 16 July 2025 • 2 min read