Sentence examples for lifetime allowance from inspiring English sources

There will also be a lifetime allowance of £1.5m.

The lifetime allowance to go down from £1.5m to £1.25m.

Mr Osborne said reducing the lifetime allowance for pensions tax relief to £1 million will help towards cutting the deficit.

Despite the rumours, entrepreneurs will be relieved that entrepreneurs' relief will still apply for qualifying gains of up to the £10m lifetime allowance.

The lifetime allowance was introduced in 2006 by then chancellor Gordon Brown, who capped the total sum any individual could save in a pension and qualify for tax relief at £1.5m.

The chancellor announced a cut in the pension pot lifetime allowance, saving £600m that had been earmarked by Labour to help fund its flagship pledge to cut tuition fees.

It was a love match, to be sure, but a generous dowry came with it, assuring Albert of a lifetime art allowance.

However, the chancellor said a new "entrepreneurs' relief" would be part of the reforms, allowing business owners a £1m lifetime capital gains allowance at the old 10% tax rate.

David, 66, lost his sight in an accident and was awarded a lifetime middle-rate care allowance in 1992.

But wealthier pensioners may be angered by the decision to cut the lifetime tax-free pensions allowance from £1.25m to £1m from next year.

Alongside the reduced annual cap, the tax-free allowance for lifetime pension contributions will also be reduced from £1.8m to £1.5m from April 2012.