Finalise LTA abolition rules by October, warns ACA

ACA warns of "unintended outcomes" if draft legislation is not finalised

Martin Richmond
clock • 2 min read

HM Revenue & Customs (HMRC) has been called to finalise draft legislation for the abolition of the lifetime allowance (LTA) by October, the Association of Consulting Actuaries (ACA) has warned.

In its response to HMRC's LTA abolition consultation, the ACA said it believed October was a "key point" for the practicality of the measure, which was announced by chancellor Jeremy Hunt in his Spring Budget earlier this year. The ACA noted it was critical for the government to have finalised key policy decisions and for the core legislation to reflect those decisions to be drafted by the October deadline. It also noted there should be a window for consultation to ensure any prospective new legislation and policy decisions are "fit for purpose". The ACA warned if the government fails...

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

Baillie Gifford rolls out Sharia-compliant fund amid 'strong' demand

Baillie Gifford rolls out Sharia-compliant fund amid 'strong' demand

Follows engagement with Islamic finance scholars

Sophia Panayi
clock 18 June 2026 • 2 min read
Charging deceased clients accidentally 'more common' than advice profession would like

Charging deceased clients accidentally 'more common' than advice profession would like

‘The fee outlives the service because the records do not talk to each other’

Sophia Panayi
clock 18 June 2026 • 4 min read
Reform for modern times: A fairer future for families

Reform for modern times: A fairer future for families

'Could reshape the legal and financial consequences of relationship breakdown'

Julia Peake
clock 17 June 2026 • 4 min read