There are currently no known outstanding effects for the Finance Act 2024, Paragraph 90.
90(1)In Schedule 18 to FA 2011 (lifetime allowance charge), in Part 2 (commencement and transitional provision), paragraph 14 (fixed protection) is amended as follows.
(2)In sub-paragraph (1)(b), for “make provision for a lifetime allowance enhancement factor” substitute “apply on that date”.
(3)In sub-paragraph (1A)(b), for “make provision for a lifetime allowance enhancement factor” substitute “apply on that date”.
(4)For sub-paragraph (3) substitute—
“(3)Chapter 15A of Part 9 of ITEPA 2003 (pension income: lump sums under registered pension schemes) has effect in relation to the individual as if—
(a)the amount specified in section 637P of that Act (individual’s lump sum allowance) were £450,000, and
(b)the amount specified in section 637R of that Act (individual’s lump sum and death benefit allowance) were £1,800,000.”
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