Lump sum death benefit allowance
The history of lump sum and death benefit allowance for the different tax years from 2024/25.
Higher levels of lump sum and death benefit allowance apply if the individual has valid lifetime allowance protection such as fixed protection 2014.
This allowance is reduced if benefits were taken before 6 April 2024 and when any relevant benefit crystallisation events take place on or after that date.
| Tax Year | Lump sum and death benefit allowance |
| 2025/26 | £1,073,100 |
| 2024/25 | £1,073,100 |
Disclaimer
The information provided is based on our current understanding of the relevant legislation and regulations and may be subject to alteration as a result of changes in legislation or practice. Also it may not reflect the options available under a specific product which may not be as wide as legislations and regulations allow.
All references to taxation are based on our understanding of current taxation law and practice and may be affected by future changes in legislation and the individual circumstances of the investor.