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Inheritance tax on pension scheme transfers

22 January 2019 / John Woolley
Issue: 4680 / Categories: Comment & Analysis
tax_2019_vol183_issue4680_january_full

A gratuitous intent?

KEY POINTS

  • The Court of Appeal overturned the decisions of the lower tribunals in HMRC v Parry.
  • The taxpayer transferred a section 32 pension plan to a personal pension scheme to prevent her ex-husband benefiting on her death.
  • Because she was in ill-health HMRC argued that an inheritance tax transfer of value arose.
  • A disposition is not a transfer of value if no gratuitous benefit was intended (IHTA 1984 s 10).
  • Associated operations must be taken into...

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