HMRC’s pension schemes newsletter 155, originally published on 25 January 2024, has been updated to correct question 8 in the lifetime allowance FAQs. This relates to applications for a transitional tax-free certificate (used to provide evidence of a scheme member’s remaining entitlement to lump sum allowance and lump sum death benefit allowance). HMRC now says that, although it expects applications for a certificate to be made to the scheme from which the first lump sum is paid after 6 April 2024, it will remain the case that members can apply to any scheme of which they are a member.
HMRC’s pension schemes newsletter 155, originally published on 25 January 2024, has been updated to correct question 8 in the lifetime allowance FAQs. This relates to applications for a transitional tax-free certificate (used to provide evidence of a scheme member’s remaining entitlement to lump sum allowance and lump sum death benefit allowance). HMRC now says that, although it expects applications for a certificate to be made to the scheme from which the first lump sum is paid after 6 April 2024, it will remain the case that members can apply to any scheme of which they are a member.
