Applying for lifetime allowance protection online
HMRC’s new online process for applying for lifetime allowance protection has now gone live and is available here.
The Lifetime allowance was reduced from £1.25 Million to £1 Million in April 2016 but there are transitional protections available. The new online service will allow you to apply for either Individual Protection 2014, Fixed Protection 2016 or Individual Protection 2016.
You will be able to view your protection details online and print off your protection details when needed. You will no longer be able to apply in writing or receive a paper certificate from HMRC.
To find out more about the lifetime allowance, the protections available to you and how to apply online, please see our Lifetime Allowance spotlight.
We hope that you find this note helpful. But if you have any related questions please call our helpline on 0300 123 1047 for further information, where our technical specialists will be happy to help.