Related Commentary  Related HMRC Manuals

215(1)  The lifetime allowance charge is a charge in respect of the chargeable amount.

215(2)  The lifetime allowance charge is a charge–

(a)at the rate of 55% in respect of so much (if any) of the chargeable amount as constitutes the lump-sum amount, and

(b)at the rate of 25% in respect of so much (if any) of the chargeable amount as constitutes the retained amount.

215(2A)  The Treasury may by order amend subsection (2) so as to vary the rates of the lifetime allowance charge.

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