Reforms to inheritance tax on pensions: personal representatives rather than pension scheme administrators will be liable for reporting and paying IHT on unused pension funds and death benefits. The Government has also confirmed that, from 6 April 2027, all death in service benefits from registered pension schemes will be out of scope of IHT.
Lifetime allowance protections and enhancements: reminder that the current lifetime allowance protection look-up service will be moving into the Managing Pension Schemes service in late 2025.
Relief at source: HMRC remind scheme administrators that repayments for 2024–25 will be withheld until any outstanding returns and APSS590 declarations are received. Administrators should ensure that they use the correct file naming conventions when submitting the return to avoid rejected submissions.
Managing Pension Schemes service: administrators and practitioners must use the service to update HMRC and submit their pension scheme return for 2024–25 onwards. HMRC provide guidance on how to migrate schemes onto the service.
Reforms to inheritance tax on pensions: personal representatives rather than pension scheme administrators will be liable for reporting and paying IHT on unused pension funds and death benefits. The Government has also confirmed that, from 6 April 2027, all death in service benefits from registered pension schemes will be out of scope of IHT.
Lifetime allowance protections and enhancements: reminder that the current lifetime allowance protection look-up service will be moving into the Managing Pension Schemes service in late 2025.
Relief at source: HMRC remind scheme administrators that repayments for 2024–25 will be withheld until any outstanding returns and APSS590 declarations are received. Administrators should ensure that they use the correct file naming conventions when submitting the return to avoid rejected submissions.
Managing Pension Schemes service: administrators and practitioners must use the service to update HMRC and submit their pension scheme return for 2024–25 onwards. HMRC provide guidance on how to migrate schemes onto the service.
