Standard lifetime allowance
The history of standard lifetime allowance for the different tax years from 2006/07.
From 6 April 2024, the lifetime allowance was replaced with three new allowances:
- the lump sum allowance - £268,275
- the lump sum and death benefit allowance - £1,073,100
- the overseas transfer allowance - £1,073,100
Tax year | Standard lifetime allowance |
---|---|
2023/2024 | £1,073,1001 |
2022/2023 | £1,073,100 |
2021/2022 | £1,073,100 |
2020/2021 | £1,073,100 |
2019/2020 | £1,055,000 |
2018/2019 | £1,030,000 |
2017/2018 | £1,000,000 |
2016/2017 | £1,000,000 |
2015/2016 | £1,250,000 |
2014/2015 | £1,250,000 |
2013/2014 | £1,500,000 |
2012/2013 | £1,500,000 |
2011/2012 | £1,800,000 |
2010/2011 | £1,800,000 |
2009/2010 | £1,750,000 |
2008/2009 | £1,650,000 |
2007/2008 | £1,600,000 |
2006/2007 | £1,500,000 |
1 The UK Government announced in the 2023 budget that LTA will be abolished from 6th April 2024.
Lifetime allowance has been abolished.