Individual protection 2014: still time to apply

As the deadline draws nearer, we thought it worth reminding that the final date for applying for individual protection 2014 is 5 April 2017.

You can apply for individual protection 2014 (IP14) if you’re among those with total pension benefits above £1.25m at 5 April 2014 and you don’t already have primary protection. You are given a personal lifetime allowance (LTA) equal to your total benefit value on 5 April 2014. But if total benefits exceed £1.5m, your personal LTA will be restricted to £1.5m.

Pension funding is allowed to continue but any benefits in excess of your personal LTA will be subject to the LTA charge.

If you want to apply for IP14, you must do this through the lifetime allowance online service, accessed through the guide Pension schemes: protect your lifetime allowance.

To apply, members will need an HMRC online services account. To create an account, or to login to an existing one, you should go to HMRC services: sign in or register. It is important to allow sufficient time to complete the registration and then apply for IP14, so do not leave it too late.

You should also be aware that although the deadline for IP14 applications closes at midnight on 5 April 2017, HMRC has confirmed that individuals will still be able to log on after that date and amend an existing application (i.e. if any of the figures require adjustment etc).

There are no specific deadlines for the newer individual protection 2016 and fixed protection 2016. But applications for these should be made before a Benefit Crystallisation Event (BCE) takes place. If you are unsure what to do, please get in touch with your usual adviser or arrange a consultation with our wealth management team.



Sam Inkersole

In 2022, Sam won the Taxation’s Rising Star award at the Taxation Awards in and was named in the Accountancy Age 35 Under 35.

Jon Wedge

While Jon’s client work focuses on the financial services sector, he also oversees the firm’s assurance service, as well as supporting the trainees following in his footsteps.


Elana joined us in 2017 as an ACA trainee, after graduating from Durham University where she had studied languages. She is now a manager in our assurance team.


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