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Annual allowance and Lifetime allowance

Annual allowance and Lifetime allowance

Got a question about the Annual allowance, Lump Sum allowance or Lump Sum and Death Benefit Allowance? You've come to the right place.

Prior to April 2023 the Lifetime Allowance was still in place, however no tax charge associated with it. From 6 April 2024, plans for the Lifetime Allowance were in place but it has since been removed and replaced with the Lump Sum Allowance and Lump Sum and Death Benefit Allowance.

A separate allowance, the Overseas Transfer Allowance, exists for transfers outside of the UK.

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