HMRC’s latest pension schemes newsletter highlights the three broad areas which will be affected by abolition of the lifetime allowance, each of which is reflected in the detailed provisions of Schedule 9 to Finance Bill 2024. HMRC intends to issue further guidance for scheme administrators via a new ‘lifetime allowance newsletter’.
The newsletter also briefly covers a reduction in the tax charge on authorised surplus payments to employers from defined benefit schemes from 6 April 2024.
HMRC’s latest pension schemes newsletter highlights the three broad areas which will be affected by abolition of the lifetime allowance, each of which is reflected in the detailed provisions of Schedule 9 to Finance Bill 2024. HMRC intends to issue further guidance for scheme administrators via a new ‘lifetime allowance newsletter’.
The newsletter also briefly covers a reduction in the tax charge on authorised surplus payments to employers from defined benefit schemes from 6 April 2024.
