.png)
.png)
12 February 2024
Pensions and inheritance tax exemption
My understanding is that following George Osborne’s pension reforms private pensions are now exempt from IHT. However in discussions with a local well respected IFA accountant a number of issues were raised that have cast doubt on my understanding. I am seeking clarification on the following points:
- that for any pensions before 2000 and not written in trust the inheritance tax exemption would not apply; and
- that for some policies pension companies will only pay out to beneficiaries the contributions made into the pension and not include any increase due to investment appreciation/compounding.
I would be interested in readers’ views on the above.
Query 20 273 – Toad.
I am not aware of any pension policies that will only pay out contributions.
When George Osborne announced a relaxation of pension fund rules in 2014 the inheritance tax advantages was not the main objective...
Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
