Article summary
HM Revenue & Customs (HMRC) has updated sections in the Employment Income Manual which deal with the taxation of pension income. Section EIM75620 has been updated for the removal of the lifetime allowance (LTA) charge from 6 April 2023, section EIM75420 has removed reference to the LTA charge, and reference to the normal minimum pension age (NMPA) increasing to age 57 from 2028 has been added to both section EIM75420 and EIM75400.
To continue reading this news article, as well as thousands of others like it, sign in with LexisNexis or register for a free trial