Transitional tax-free amount certificates – should a client apply?

Where clients have accessed pension savings prior to 6 April 2024 and have therefore used part or all of their lifetime allowance, the lump sum allowance (LSA) and lump sum and death benefit allowance (LSADBA) will be reduced by a “default” calculation. However, individuals have the option to apply for a “transitional tax-free amount certificate” (TTFAC) where this would provide them with additional allowances.  

Check if your client should apply