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Lifetime allowance explained

Lifetime allowance explained

What is a lifetime allowance? A lifetime allowance is the maximum value of benefits an individual can take from all the registered pension schemes before he /she has to pay a lifetime allowance tax [...]

Do you understand Tax codes?

Do you understand Tax codes?

INTRODUCTION In the 2015-16 tax year, the applicable tax code for all the tax-payers was 1060L. This tax code applied to all the individuals who received the entire tax free Personal Allowance and at [...]

How to understand Tax codes?

How to understand Tax codes?

INTRODUCTION 6th April 2016 was the beginning of the tax year with the new tax code 1100L (tax code for tax year 2015-16 was 1060L). This change in the tax code meant that the take-home pay was [...]


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