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New Pensions Tax Regime

In the third of three articles John Hayward and Alec Ure Pension Consultants continue their explanation of the basic elements of the new pensions tax regime in the UK
Inheritance tax
Lump sum death benefits payable from registered pension schemes are free from income tax apart from the 35% tax charge (see Part 2). They are also free from IHT provided they are distributed by the trustees of the pension scheme concerned within two years of the member's death under discretionary powers. It is possible for members to establish a discretionary trust during their lifetime to receive lump sum death benefits later from their pension scheme and for the lump sum concerned to remain...
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