The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations SI 2024/1012 are designed to correct the substantive legislation which abolished the lifetime allowance. The changes cut across much of that legislation together with relevant provisions of FA 2004 and ITEPA 2003. The changes have effect for 2024/25 and subsequent tax years.
As reported last week a further set of Regulations related to lifetime allowance abolition is also expected in due course with the Pensions (Abolition of Lifetime Allowance Charge etc) (No. 3) Regulations 2024 having already been published in draft form. These will also have effect from 6 April 2024.
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The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations SI 2024/1012 are designed to correct the substantive legislation which abolished the lifetime allowance. The changes cut across much of that legislation together with relevant provisions of FA 2004 and ITEPA 2003. The changes have effect for 2024/25 and subsequent tax years.
As reported last week a further set of Regulations related to lifetime allowance abolition is also expected in due course with the Pensions (Abolition of Lifetime Allowance Charge etc) (No. 3) Regulations 2024 having already been published in draft form. These will also have effect from 6 April 2024.
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
