Liability for paying the
lifetime allowance charge depends upon whether the
charge arises during the members lifetime or after their death.
During a members lifetime the
scheme administrator and the member are both
responsible. The scheme administrator will usually pay as a result
of their liability to account for the charge.
Where a member has died it is the recipient of any lump sum
who is liable for the tax charge (see
RPSM11103600)
The lifetime allowance charge applies regardless of whether
the any of the persons liable to it are resident, ordinarily
resident or domiciled in the UK.
Where more than one form of benefit is taken at the same time
the order in which benefits are taken may affect not only the rate
of lifetime allowance charge but also which scheme is liable for
that charge.
| Glossary ( RPSM20000000) |
