Government collects £110m in pension Lifetime Allowance tax

Figures obtained by Old Mutual Wealth revealed that in 2016/17, the government collected £110m from 2,410 people who went over the Lifetime Allowance. This was an increase from the 1,610 people caught by the rules in 2015/16, paying £80m in tax. The government has generated revenues of £110m in pension Lifetime Allowance tax. Read moreCotswold is mindful of tax planning with clients, which is particular relevant with the changing lifetime allowance. http://www.yourmoney.com/retirement/government-rakes-110m-pension-lifetime-allowance-tax/