Lifetime allowance (pensions)

Pension scheme members can now apply to protect their pension savings from the lifetime allowance tax charge using HMRC’s website.

The online service replaces the interim paper process for applying fixed protection 2016 (FP2016) and individual protection 2016 (IP2016) as well as the online form for applying for individual protection 2014 (IP2014).

If you have no idea what we are talking about and you have significant pension savings then please do get in touch!