The government is set to introduce further regulations regarding the abolition of the lifetime allowance (LTA).
In its September pension schemes newsletter, the government said HM Revenue & Customs (HMRC) had concluded a short consultation on the draft regulations to correct the legislation last month. It added it had considered feedback to the consultation and noted the regulations would be introduced "as soon as parliamentary time allows". The abolishment of the LTA, which was announced by then-chancellor Jeremy Hunt during the 2023 Spring Budget, was certified earlier this year after the Finance Bill 2024 received Royal Assent in February. However, the provisions in the Finance Bill drew critic...
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