Pension warning: Breaching savings limit could mean 55 percent tax charges | Personal Finance | Finance


The effects of inflation over time could therefore push more Britons over the LTA.

When it was first introduced, the LTA was significantly higher, set at £1.5million in the 2006/07 tax year.

It was gradually increased and eventually got to an all-time high of £1.8million.

However, it has been tapered down in recent years, resulting in the current £1,073,100 limit.

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