Publication
Regulation Around the World: Open Finance
In this issue of Regulation Around the World we look at how regulators are developing their proposals for Open Finance.
Lifetime Allowance abolition regulations in force
United Kingdom | Publication | December 2024
On November 18, 2024, two sets of regulations that address certain anomalies in the legislation removing the Lifetime Allowance came into force and are backdated to April 6, 2024.
HMRC has updated its Pensions Tax Manual to reflect the changes.
The Pensions (Abolition of Lifetime Allowance Charge etc) (No 2) Regulations 2024 and The Pensions (Abolition of Lifetime Allowance Charge etc) (No 3) Regulations 2024 both make amendments in areas including lump sums and death benefits and pension protections.
Detail can be seen in HMRC’s Pension schemes newsletter no. 163.
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