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.

More information