HMRC’s latest Pension Schemes Newsletter (October 2024) summarises the following announcements made at Autumn Budget 2024 relevant to pensions taxation:
extending inheritance tax to pension death benefits: unused pension funds and death benefits payable from a pension will form part of a person’s estate for IHT purposes from 6 April 2027;
qualifying recognised overseas pension schemes (QROPS) - removal of an exclusion for overseas transfer charge: from 30 October 2024 the overseas transfer charge exclusion that applied to members transferring to a QROPS in the EEA or Gibraltar is removed. The Newsletter summarises implications for those affected;
requirements for EEA overseas pension schemes: from 6 April 2025 the conditions for a scheme to be an occupational pension scheme or recognised overseas pensions scheme established in the EEA will be brought in line with those for equivalent schemes established in the rest of the world; and
UK resident pension scheme administrators:...
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HMRC’s latest Pension Schemes Newsletter (October 2024) summarises the following announcements made at Autumn Budget 2024 relevant to pensions taxation:
extending inheritance tax to pension death benefits: unused pension funds and death benefits payable from a pension will form part of a person’s estate for IHT purposes from 6 April 2027;
qualifying recognised overseas pension schemes (QROPS) - removal of an exclusion for overseas transfer charge: from 30 October 2024 the overseas transfer charge exclusion that applied to members transferring to a QROPS in the EEA or Gibraltar is removed. The Newsletter summarises implications for those affected;
requirements for EEA overseas pension schemes: from 6 April 2025 the conditions for a scheme to be an occupational pension scheme or recognised overseas pensions scheme established in the EEA will be brought in line with those for equivalent schemes established in the rest of the world; and
UK resident pension scheme administrators:...
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If you do not subscribe but are a registered user, please enter your details in the following boxes:
