Article preview: A potential source of pensions tax confusion was cleared up this week following a Court ruling. The question addressed is whether or not inheritance tax should be applied when someone in terminal ill-health transfers their pension. It’s a Court case dating back to 2014, The Commissioners for Her Majesty’s Revenue and Customs v Parry & Ors.
Inheritance tax will not be applied to pension transfers in these circumstances
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This 338-word blog post reports on the outcome of the Staveley Case, where the Supreme Court concluded that the omission gave rise to a charge to inheritance tax, but the transfer did not. Written on 20th August 2020.
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