Eddie Grant chats to Claire Trott, Technical Connection Director, to discuss the imminent lifetime allowance changes.

The Chancellor announced the abolition of the lifetime allowance (LTA) in the spring budget of 2023. While there may be amendments, the main form of the legislation should go through. As a result, the LTA charge will be removed from 6 April 2023, but the existing framework remains in place until the full abolition in the 2024-2025 tax year. Claire discusses the changes and what advisers should consider and what they should say to their clients.

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