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Legislation

Income Tax (Earnings and Pensions) Act 2003

Crossheading Allowances

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Section 637P Individual’s lump sum allowance
Section 637Q Availability of individual’s lump sum allowance
Section 637R Individual’s lump sum and death benefit allowance
Section 637S Availability of individual’s lump sum and death benefit allowance
Section 637T Availability of individual’s lump sum and death benefit allowance where multiple lump sum death benefits paid
Section 637U Availability of individual’s allowances where lump sums or lump sum death benefits already paid by non-UK schemes

Income Tax (Earnings and Pensions) Act 2003
Allowances

Section 637P | Individual’s lump sum allowance

From legislation.gov.uk

15 July 2026

An individual’s “lump sum allowance” is £268,275.^F1

Notes

F1
Pt. 9 Ch. 15A substituted (for the tax year 2024-25 and subsequent tax years) by Finance Act 2024 (c. 3), Sch. 9 paras. 41, 124 (with Sch. 9 paras. 125-132A) (as amended by S.I. 2024/356, regs. 1, 4; and (18.11.2024 for the tax year 2024-25 and subsequent tax years) by S.I. 2024/1012, regs. 1(2)(3), 17)

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