There is a huge amount of detail to understand now these changes have been made. Our LTA Hub is here to help you. You’ll find a range of videos and support articles to help you understand what it means for you and your clients.
How do I complete an online crystallisation?
To help ensure you understand the new process and screens, please watch this short ‘How do I?’ video that will show you how to submit a crystallisation request from today following the LTA changes.
Applying for a Transitional Tax-Free Amount Certificate
Follow these 5 steps to apply for a Transitional Tax-Free Amount Certificate (TTFAC):
- Is you client eligible?
- Assess whether your client should apply for a certificate.
- Obtain evidence to accompany the application.
- Complete the TTFAC application form.
- Submit the application form and evidence online via Prompt.
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Useful articles
We will continue to add new articles and update content as HMRC issue newsletters and new legislation is published to help you understand what it means for you and your clients.
- Two new allowances: individual’s lump sum allowance (ILSA) and individual’s lump sum and death benefit allowance (ILSDBA)
- Tax-free lump sums whilst alive
- Tax-free lump sums after death
- Transitional regime for past crystallisations
- ILSA, ILSDBA and permitted maximums
- Overseas transfer allowance and overseas transfer charge
- Why advisers must act now ahead of 6 April LTA abolition (professionaladviser.com)
- New rules regarding scheme specific tax-free cash
- Transitional tax-free amount certificate (TTFAC)
Register now for our webinar 'The new pension landscape from April 2024'
Watch as Roddy Munro, Head of Proposition Specialists, discusses the abolition of the Lifetime Allowance (LTA) and what this means for you and your clients going forward.
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