I'm working on a case for a client who has a final salary pension significantly over his LTA. I'd expect voyant to show the LTA charge on his his income at 25%, but the software seems to be showing a lump sum LTA charge when he first starts to draw the pension. I have him taking a PCLS but only 25% of his LTA.
Is voyant wrong, or have I misunderstood how LTS charges are applied to final salary benefits?
If its voyant, is there a setting I can change to make it take the LTS charge on the pension payments?