The Lifetime Allowance was officially abolished from the 5th April 2024.
But there were several transitional issues which required further legislative fixes to ensure the new regime operates as intended.
Two new sets of pension regulations came into effect on 18th November 2024 to help finalise things.
Learning outcomes
By the end of this session, you will be able to:
Claiming your CPD
To claim your CPD certificate, test your knowledge with the questions below.
Write down your answers to each of the following questions and check your answers when you click to claim your CPD certificate on the link below
1. When are the November LTA regulations effective from?
a. 6th April 2025
b. 6th April 2024
c. 18th November 2024
d. 21st November 2024
2. HMRC have replaced the CSLA in the SSPTFC calculation with:
a. LSDBA
b. LSA
c. TFC
d. PCLS
3. Bob has Enhanced Protection with 40% TFC, his arrangement was worth £3m at 5th April 2023. He has had no PCLS since that date. It is now woth £4m. How much tax free cash can he get?
a. £1.2m
b. £1.6m
c. £375,000
d. £4m
1. When are the November LTA regulations effective from?
a. 6th April 2025
b. 6th April 2024
c. 18th November 2024
d. 21st November 2024
2. HMRC have replaced the CSLA in the SSPTFC calculation with:
a. LSDBA
b. LSA
c. TFC
d. PCLS
3. Bob has Enhanced Protection with 40% TFC, his arrangement was worth £3m at 5th April 2023. He has had no PCLS since that date. It is now woth £4m. How much tax free cash can he get?
a. £1.2m
b. £1.6m
c. £375,000
d. £4m
Before collecting your certificate, please take a moment to provide us feedback on this session, please email prudential.distribution.team@prudential.co.uk
Complete the form below and we’ll email your CPD confirmation to you. Please use the email address that you would usually use when contacting us.
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Autumn Budget October 2024
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