Lifetime Allowance increase for next tax year
sb1
Member
This is probably a really silly/simple question but after the CPI figure for September (0.5%) was recently released I've noticed various places are reporting the LTA will increase by £5,800 to £1,078,900 but I don't understand how they've came to this figure so I was just wondering if someone who knows could explain 
Comments
Hello,
Going by the 0.5% rise, it should increase by £5,365.50 to £1,078,465.50 however the government has just increased it slightly and to a round number as they have the discretion to this.
They did the same thing last year, so it's likely they will do it in future years unless it falls naturally on a rounded figure.
Hope this helps.