Changes to the Lifetime Allowance

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Tax stampThe Lifetime Allowance (LTA) limit reduced from £1.25 million to £1 million with effect from 6 April 2016.

At that time two new protections were introduced called Fixed Protection 2016 and Individual Protection 2016.

These protections are the the same in design as Fixed and Individual Protections 2014 which were introduced when the LTA reduced from £1.5 million to £1.25 million in 2014.