It’s taking a while to shake off colder temperatures, although there are glimpses of warmer weather ahead. The same might be said of the economy, with the Office for Budget Responsibility predicting at the Budget that inflation should come down sharply later in the year. In the meantime, however, pressures continue on businesses and individuals. Energy support has been extended to the end of June to maintain a lower energy price cap, but households and firms are still struggling. The aftermath of March’s Budget and advent of the new tax year are a good time to review your strategies for the months ahead in the light of recent changes.

Following on from the Chancellor’s Budget surprise of the effective abolition of the pension lifetime allowance, our feature for this edition of our newsletter explores the effect of that and other significant changes on your retirement tax planning.