Based on the Annual CPI to September 2019 of 1.7% and legislation, the Lifetime Allowance for 2020-2021 would be calculated as £1,072,900. However, based on last year the Government chose to round up to the nearest £5,000 which would mean the Lifetime Allowance for 2020-2021 would be £1,075,000.
Regulations state that the previous Lifetime Allowance will be
(a) increased by the percentage increase in the index, and
(b) if the result is not a multiple of £100, rounded up to the nearest amount which is such a multiple.
The index referred to above is CPI.
The above figure is expected to be confirmed as part of the Budget and a statutory instrument passed to bring it into force.