Benefits value at 1st crystallisation event was £ 3,000,000
The lifetime allowance was £ 1,800,000
Amount of benefits was £ 450,000
The lifetime allowance charge applied was £ 0
Tax-free cash of £ 112,500 was paid
Being 25% of £ 450,000
The residual benefits used for income was £ 337,500 being £ 450,000 minus £ 112,500