LA charge case study - image 1

Benefits value at 1st crystallisation event at 6 April 2010 was £ 3,000,000.00

Benefits value at 1st crystallisation event at 6 April 2010 was £ 3,000,000.00
The lifetime allowance was £ 1,800,000.00
Amount of benefits value required (to be crystallised) £ 500,000.00
The lifetime allowance charge applied was £ 0
The benefits taken were TFC of £ 125,000.00
Being 25% of £ 500,000.00
Plus the value of the residual benefits used for income of £ 375,000.00 being £ 500,000.00 minus £ 125,000.00

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The Royal London Mutual Insurance Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The firm is on the Financial Services Register, registration number 117672. It provides life assurance and pensions. Registered in England and Wales number 99064. Registered office: 55 Gracechurch Street, London, EC3V 0RL.