Summary
The appellant had a reasonable excuse for failing to make on time an application for enhanced protection from the lifetime allowance charge, following the mistaken belief of the appellant and his advisers that enhanced protection had already been applied for and obtained.
Background
The appellant was a client of a financial services firm. The firm advised the appellant in October 2005 that he would need to apply for enhanced protection under the transitional pension provisions (FA 2004, Sch 36, para 12). Subsequent interactions between the appellant and his advisers between 2005 and 2014 (up to 15 March 2014) reflected the belief of both parties that enhanced protection had been put in place.
However, in February 2014 the appellant informed his advisers that he was considering making a drawdown from his pensions. Consequently, in March 2014 his
