Transitional Tax Free Allowance Certificate TTFAC Contents

In PTM174300 under the section “Certification” which deals with the content of the certificate to be issued it states that one of the elements to be included on the certificate is: “The individual’s lifetime allowance previously-used amount expressed as a percentage of the standard lifetime allowance” Where an individual has LTA protection in place (eg Individual Protection 2016) it seems incorrect to refer to the percentage of LTA used with reference to the “standard lifetime allowance”. Surely this should refer to the lifetime allowance percentage applicable to the individual concerned which might be Fixed or Individual protection etc? As someone with Individual Protection all statements from my pension provider reference the percentage of LTA used with reference to the protected sum. Please can someone clarify what this requires and if it is in relation the the standard LTA amount, why that is the case.

Hi,
The guidance is to apply to everyone and all are entitled to the standard lifetime allowance.
If you have applied for protected allowances you need to notify your pension provider so that the correct certitcate is issued.
Thank you.

Hi. Thanks for your prompt reply. For clarity then, if someone has some form of LTA protection, then the standard lifetime amount referred to in the guidance is that individuals’s protected sum and their pension provider needs to reference that amount. Thank you.

Hi Michael

Yes, that is correct.

Thanks