Displaying items by tag: lump sum
Lisa Webster: Maximising protected tax-free cash
While 2024 ended with a lot of doom and gloom in the pension world following the big announcement on inheritance tax (IHT), there was some good news that may have slipped under the radar of some advisers.
Lisa Webster: Divorce impact on lump sums raises question
The lifetime allowance may have been consigned to the annals of history but the various forms of protection are still relevant in the new world, especially when it comes to the amount of pension commencement lump sum (PCLS) that can be taken.
HMRC to replace emergency tax codes on pension withdrawals
HMRC is to reform the system by which it currently applies emergency tax codes to pension lump sum withdrawals.
Chancellor considering lump-sum pension withdrawal limit cut
Chancellor Rachel Reeves is considering cutting the lump sum savers can remove from their pension without having to pay tax, according to reports.
Lisa Webster: 2024 – year of unlimited PCLS?
The consultation on the draft legislation for the removal of the lifetime allowance (LTA) has now closed. The industry has given its views and now we have to wait and see what changes – if any – are made to the clauses published so far.