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By submitting an enquiry through 'get in touch' your data will only be used to contact you regarding your enquiry. If you would like to receive newsletters from Thomson Snell & Passmore please use the separate form below.

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General Private Client UpdatesGeneral Commercial UpdatesConstruction UpdatesCourt of Protection UpdatesAgriculture & Rural Affairs UpdatesCommercial Property UpdatesEmployment UpdatesDispute Resolution UpdatesCorporate & Commercial UpdatesCharities & Not for Profit UpdatesFood & Drink UpdatesEducation UpdatesTransport & Logistics UpdatesFamily Business & Owner Managed Businesses Updates

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  • Overview

    Following a recent reform, if a client makes a transfer into the pension plan whilst aware they are suffering from a terminal illness or, to a certain degree, ill heath, it is extremely likely that HMRC will challenge the tax free status of the death benefits if the client dies within two years of the transfer.

    The revenue will assess such transfers on a case by case basis.  This can lead to lengthy negotiations with the revenue as well as the possibility of an additional IHT charge.

    Case study

    In a recent matter, we were acting for an estate where transfers were made into a SIPP pension within a year of the date of death.  The total transfers into the pension exceeded £600,000 leaving a potential IHT charge of £240,000.

    The deceased had previously suffered from cancer although at the time the transfers were made was in reasonably good health.  The transfers were made to give the client more flexibility over their pension arrangements and were not made because the client was aware of her life expectancy.  The client died within a year of making these transfers.

    With our assistance the executors of the estate were able to put in a full and successful argument at the outset to HMRC and the death benefits were paid without an IHT charge and without delay.

  • Related Services

    Probate

    A probate lawyer will give you clear guidance about the different levels of service on offer, the steps involved, the costs and probable timings.

    Grant of Representation

    Using a lawyer to apply for a Grant of Representation can unlock your assets more quickly and save you time.  

    Executor support service

    Using our Executor Support Service in the probate process means you can hand over the tasks you lack the time or knowledge to carry out.  

    Full estate administration

    Getting a lawyer to take on responsibility of the entire process of estate administration is less stressful and less time-consuming.  

    Inheritance Act claims

    A lawyer can often find alternatives to court proceedings in Inheritance Act claims, preventing heavy costs and damage to relationships.  

Get In Touch

By submitting an enquiry through 'get in touch' your data will only be used to contact you regarding your enquiry. If you would like to receive newsletters from Thomson Snell & Passmore please use the separate form below.

Newsletter Sign Up

General Private Client UpdatesGeneral Commercial UpdatesConstruction UpdatesCourt of Protection UpdatesAgriculture & Rural Affairs UpdatesCommercial Property UpdatesEmployment UpdatesDispute Resolution UpdatesCorporate & Commercial UpdatesCharities & Not for Profit UpdatesFood & Drink UpdatesEducation UpdatesTransport & Logistics UpdatesFamily Business & Owner Managed Businesses Updates

I agree to be ‘opted in’ to receive Thomson Snell & Passmore newsletters, event invitations and other publications that are related to the subject matter of this event or my industry sector. I understand that this means they will send me these communications by email

I agree

If you want to update what types of information you want to receive from us, or if you wish to stop receiving these communications, you can do so ay any time using the following link: or emailing us at .

We respect your privacy, information you submit to us will be treated in accordance with our & .

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Jargon Buster