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6 key points about pensions tax relief

By International Adviser, 2 Oct 18

How the UK Government is encouraging people to save for their retirement


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Exemption from inheritance tax

Inheritance tax (IHT) is a tax on the estate (the property, money and possessions) of someone who’s died – if the value of the estate goes over a certain threshold.

Funds held within your pension are considered to be outside your estate and so not liable to IHT.

However, remember that you will pay the lifetime allowance charge if your pension pot exceeds £1.03m or if death occurs before the age of 75.

Tags: HMRC | IHT | Pension

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International Adviser covers the global intermediary market that uses cross-border insurance, investments, banking and pension products on behalf of their high-net-worth clients. No news, articles or content may be reproduced in part or in full without express permission of International Adviser.