Doctors cough up £11m 'unnecessarily' over lifetime allowance breaches

Mark Battersby
clock • 2 min read

Just over 400 UK doctors have unnecessarily paid over £11m in Lifetime Allowance (LTA) charges, Quilter has revealed after making a Freedom of Information (FOI) request. Quilter believed that a substantial number of doctors had missed out on applying for LTA protection and had paid more than necessary in tax. LTA protections were introduced, following reductions in LTA, to help those with pensions already valued above certain limits. By applying for ‘protection' you are able to protect the value of the benefits built up (and in some cases, future benefits that may accrue) from tax cha...

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