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MONEY MATTERSWinter 201617A l t an i r s p e r s o n an l f i n an n c e t i p s f o r t h e y o u n g i n v e s t, or What Is Your Money Personality?
Do you eat all your hard-earned candy on Halloween
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What is a l t a?
An LTA stands for Lifetime Allowance, which is the maximum amount of pension savings that can be built up without triggering an extra tax charge.
Who is required to file a l t a?
Individuals with pension savings that exceed the Lifetime Allowance are required to file an LTA declaration.
How to fill out a l t a?
To fill out an LTA declaration, individuals must provide details of their pension savings and any other relevant information as required by the tax authority.
What is the purpose of a l t a?
The purpose of an LTA declaration is to calculate whether the individual's pension savings exceed the Lifetime Allowance and if any extra tax charges are applicable.
What information must be reported on a l t a?
The LTA declaration must include details of the individual's pension savings, any contributions made, and any benefits received.
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