Charlene Young

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Should taxpayers be funding pension compensation bills?

The tax rules for compensation payments are inconsistent and, in the context of pensions, fundamentally flawed. Without change, there is a risk they will be exploited by claims management companies, and ordinary taxpayers will be left to pick up the tab. For Isas, a compensation payment for an investment can be made to the account […]

IHT and the pension transfer window

Generally speaking, trustees and scheme administrators have discretion over the distribution of death benefits from a pension scheme. This is important as it means the benefits can usually be paid free of any inheritance tax. However, the reform to the taxation of death benefits and the record £4.6bn IHT revenue HM Revenue & Customs took […]