Pension Schemes Newsletter
161 confirms that HMRC had been consulting on draft
regulations to make further technical changes to the legislation which
abolished the lifetime allowance with effect from 6 April 2024. The
consultation closed on 14 August. Those changes are expected to cover
transitional arrangements, particularly in relation to protections and overseas
transfers. The draft regulations had already been circulated to a closed group
of industry representatives (on 24 July 2024), and copies could also be
requested by email: policypensions@hmrc.gov.uk.
Pension Schemes Newsletter
161 confirms that HMRC had been consulting on draft
regulations to make further technical changes to the legislation which
abolished the lifetime allowance with effect from 6 April 2024. The
consultation closed on 14 August. Those changes are expected to cover
transitional arrangements, particularly in relation to protections and overseas
transfers. The draft regulations had already been circulated to a closed group
of industry representatives (on 24 July 2024), and copies could also be
requested by email: policypensions@hmrc.gov.uk.
