Back

⚠️ Hey, you are using an outdated web browser.
TaxScouts might not work with your browser. Upgrade here

Let us sort your Self Assessment online. £119, all in. Learn more

Pension Lifetime Allowance

The Pension Lifetime Allowance is how much you can draw out from your pension plans and schemes, without paying tax. It is currently £1,055,000, but it is increasing every year. If you go over it, you will need to pay Income Tax on the difference.

The Pension Lifetime Allowance does not apply to your State Pension.

Hey there! We really hope this article helped you. Tax matters can be a dreadful topic at times. We know. That's why we started TaxScouts.
A stress-free way to getting your taxes done.

Have a minute? See how it works

More guides & useful information

Let us sort your Self Assessment online. £119, all in.

That’s right. No matter how complicated it gets or why you need to do a return in the first place, it’ll cost £119 to get it done. That includes VAT, last-minute changes and all the support you may need.

How TaxScouts works

Answer a few simple questions

And we mean a few. After a couple of minutes of answering questions online we’ll have everything we need to start preparing your tax return.

Then get paired with a tax return accountant

That’s right, you’ll be matched with a real certified accountant who is best suited to prepare your return. Plus, they’re on hand for questions whenever you need.

We file your Self Assessment for you

Once you’ve signed off your return, your TaxScouts accountant will submit your return with HMRC for you.

That’s it! We told you it was simple.