If You Want To Avoid The Lifetime Allowance Charge - WATCH THIS!

How do you avoid the Pension LTA? Do you even need to? Here I provide a simple walkthrough of common lifetime allowance myths, and how to protect your pension!

#lifetimeallowance #pensionlta #ukpensions

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The content in this video is provided for information and entertainment purposes. It should not be construed as direct or indirect financial advice. You must throughly research any potential financial or investment decision and fully understand the risks before taking it. If in doubt, you should seek individual advice from a professional adviser.
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TIMESTAMPS:

0:00 Start
1:46 Is There A Single Strategy For Avoiding The LTA?
2:19 Who Could Be Affected By The LTA Charge?
3:31 How Are You Penalised When You Exceed LTA? (Myth 1)
5:09 "You Pay A Tax Charge As Soon As You Breach LTA" (Myth 2)
5:40 "You Pay A Tax Charge When You Start Taking Benefits" (Myth 3)
6:57 "You Have To Stop Contributions When You Exceed LTA" (Myth 4)
8:13 "There Is A Further LTA Charge On Drawdown Funds On Death" (Myth 5)
9:24 What Alternatives Are There To Pensions To Avoid LTA Charge?
Lifetime allowance planning has become necessary for more people due to several reductions to the threshold over the past decade, and that theme will continue with the LTA now FROZEN for another 5 years.

More and more people will be sucked in by the LTA and could lose a large part of their pension value above this threshold.

HOW TO AVOID THE PENSION LIFETIME ALLOWANCE

Before working out how to avoid the lifetime allowance, it's important to be aware of some common myths... For example, it's not always a 55% lifetime allowance charge, and you don't have to pay the charge as soon as your pension value surpasses the threshold.

FINANCIAL PLANNING ADVICE CAN BE BENEFICIAL

Having UK pensions explained simply is something that a lot of people want and this channel aims to serve that purpose, but some pension rules are complex and there's not a one size fits all approach to pension tax planning...

The lifetime allowance is one of those areas where taking individual financial planning advice from a professional financial planner could be hugely beneficial.

Pensions are still the main vehicle of choice for UK retirement planning and they provide many excellent tax benefits to individuals and companies. It is important to understand alternatives to pensions for retirement too though, particularly when the pension LTA is breached.

Видео If You Want To Avoid The Lifetime Allowance Charge - WATCH THIS! канала Chris Bourne - Tax Free Investing Expert