Transitional tax-free amount certificates

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.

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