UK Pensions and the Lifetime Allowance (LTA)
British people risk up to 55% taxation if pension funds go over the UK lifetime allowance (LTA), but expatriates can take steps to limit exposure. Are your UK pension funds safe from lifetime allowance (LTA) penalties? If you have several pensions, have been saving for many years or have a generous company pension, you could be in the firing line for 25% or 55% tax without realising it. What is the lifetime allowance? Since 2006, the UK government has capped how much you can hold in combined pension benefits without paying extra tax. Originally £1.5 million, the LTA peaked in 2011 at £1.8 million before gradually dropping to £1 million Read more…