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LTA questions
Comments
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Unfortunately not for me it hasn't so was wondering if anyone could clear this slight twist on the situation up for me.
Say, for simplification, LTA still at £1M and at 55 crystallise all from £400k DC pot & HMRC valuation of £600k for DB scheme. At 60 another DB kicks in with HMRC valuation of £50k. How would this DB actually look in payment as far as tax on it was concerned? Would HMRC take 25% from each payment of the second DB and then tax again at my nominal rate?
And if that final DB was wholly GMP, what then?0 -
It's from the AFPS_75 scheme. Really could not tell you if there's any GMP element to it! How would that affect it? Cheers.ffacoffipawb wrote: »And if that final DB was wholly GMP, what then?0 -
!!!8220; And if that final DB was wholly GMP, what then?
Originally posted by ffacoffipawbIt's from the AFPS_75 scheme. Really could not tell you if there's any GMP element to it! How would that affect it? Cheers.
If your Armed Forces service was any time between 1978 and 1997 then you will have a GMP, but it's unlikely to be all GMP.0 -
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