Ken Dunn

I have received a response from HMRC Admin 8 to my post of 5 days ago asking when you expect to make the regulations promised by you to enable individuals with enhanced protected lump sum rights to be able to take a PCLS of more than £375,000. Your response referred to the guidance published on 6 April entitled 'taking higher tax-free lump sums with protected allowances'. This confirms the availability of the higher lump sum but does not address when the errors highlighted in newsletter 158 will be addressed. Newsletter 158 recommends delaying the taking of such a lump sum until the amending legislation is effective. This is the question that I asked - when do you plan for the amending legislation to take effect? Are please able to answer this question? Ken Dunn

Steve Sims queried on your community forum a month ago whether the new LTA regulations promised in newsletter 158 had been signed off. One of the matters that these need to address concerns individuals with enhanced protection and protected lumpsum rights of more than £375,000. Your response was a link to an HMRC document dated 22 November 2023 about the abolition of the LTA. This indicated what the policy intent is but did not answer his question. However it may be that you were constrained by being in the middle of a general election campaign. Now that the election is over, can you please indicate when you expect to make the regulations promised by you to enable individuals with enhanced protection and protected lump sum rights to be able to take a PCLS of more than £375,000. Many thanks Ken Dunn