Tag: LTA

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What? No LTA?

Well, yesterday’s budget is a surprise. Anyone can put 10k gross into their pension. And the LTA is gone. Wow. This is of course a total gift for billionaires – for anyone earning over 100k really – and tax top-ups and self-assessment credits could cost HMRC a lot. But from my perspective I can stop worrying about whether I’ll go over the LTA at age 60, and stop calculating carefully for BCE5A at age 75, and start editing this website! Maybe wait a couple of weeks to be sure it’s really true, and save the deleted pages for when the LTA is reintroduced.

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Anticipating tax with a revised planning model

After a fairly good investment return this year, I thought I’d better look ahead at what prolonged good return might mean for taxes.  At the same time I’ve adjusted how I plan ahead, which has barely changed the pension that I allow myself, but which gives me a better view of tax implications.  It all means that Lifetime Allowance BCE 5A needs thinking about.  I have a plan for now, and couple of options for a few years’ time.  I’ve written a page on this.