This is the first of three articles on income tax on cash lump sums withdrawn from registered pension schemes lump sum death benefits arising to beneficiaries from such schemes and international pension scheme transfers post 5 April 2024.
It is a very complex subject regarding which members of the public and existing clients may want to have a dialogue about their options. They may be approaching retirement from work or have already retired but have not yet taken decisions about whether to take one or more lump sums from their pension pot(s). They or individuals later involved might also choose to nominate a drawdown pension to someone with a lump sum death benefit arising therefrom to a beneficiary or wish to make an international pension transfer.
Background
As background it is worth being aware that the Conservative led UK government was told that some senior members working in...
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