APPLICATION FOR BENEFITS

Pensions Taxation - Annual Allowance ... are more than the annual allowance, the excess will be taxed as income. The Government reduced the AA from £255,000 to £50,000 from 6 April 2011, and then reduced it again to £40,000 from 6 April 2014. ... 2 A stand-alone lump sum is a lump sum … ................
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