Business
Lifetime allowances for pensions was first introduced in 2006. This is the amount an individual is allowed to accrue in pensions scheme before paying any tax charges. The lifetime allowance for 2021/22 has been frozen and sits at £1,073,100.Lifetime allowance can be extremely complex area to navigate. This podcast is not intended as advice and those who face any of the issues discussed in the podcast are encouraged to seek appropriate financial planning advice. Want to know more about our Personal Financial Planning Services and how we can help you? Head here for more info: https://smithandwilliamson.com/en/services/personal-financial-planning/SOCIAL MEDIA:Twitter - @SmithWilliamsonLinkedIn - @Smith&WilliamsonCREDITS:Hosts: Anne McClean, Douglas CameronProducer: Laura BurrowsGET IN TOUCH:Have any feedback? We're listening, email us at: podcast@smithandwilliamson.comView all episodes for the Personal Financial Planning show here: https://bit.ly/3wWnSZW This episode was recorded on 19/04/2021This S&W The Pulse podcast is of a general nature and is not a substitute for professional advice. No responsibility can be accepted for the consequences of any action taken or refrained from as a result of what is said. The views expressed are not necessarily those of the presenter or of Smith & Williamson or any of its affiliates. No reproduction of this podcast may be made in whole or in part for professional or recreational purposes. No action should be taken based on this podcast and we accept no liability if we change your views on any of the subjects mentioned.Tax legislation is that prevailing at the time, is subject to change without notice and depends on individual circumstances. Clients should always seek appropriate tax advice before making decisions. HMRC Tax Year 2021/22.