Related Commentary  Related HMRC Manuals

214(1)  A charge to income tax, to be known as the lifetime allowance charge, arises where–

(a)a benefit crystallisation event occurs in relation to an individual who is a member of one or more registered pension schemes, and

(b)either the first lifetime allowance charge condition or the second lifetime allowance charge condition is met.

214(2)  The first lifetime allowance charge condition is that–

(a)the whole or any part of the individual's lifetime allowance is available on the benefit crystallisation event, but

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