IHTM17000 - Pensions: contents

Introduction
Investigation of form IHT409
Types of pension scheme
IHT claims on contributions to a pension scheme
IHT claims on death benefits
IHT claims on retirement benefits
IHT charges on pension schemes as settled property
Further information on occupational schemes
Overseas pensions
Stakeholder pensions
Divorce or dissolved civil partnership and pensions 

Pensions on or after 6 April 2006

Introduction to pensions on or after 6 April 2006
Annuity Purchase
Unsecured Pensions
Alternative Secured Pensions
Alternatively Secured Pensions ─ the position from 6 April 2006 to 5 April 2007
Procedure
Alternatively Secured Pension ─ Position from 6 April 2007
When scheme member cannot be traced
Unregistered Schemes: EFRBS
Lump Sum paid at trustees discretion : 2 year concessionary period
Excepted Group Life Policies
Scheme Pensions and Lifetime Annuities
Overseas Schemes - guidance to follow soon

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Introduction

IHTM17001 Introduction

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Investigation of form IHT409

IHTM17011 Initial examination
IHTM17012 PC&S cases
IHTM17013 Compliance group cases
IHTM17014 Gifts of premiums

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Types of pension scheme

IHTM17020 Types of pension scheme
IHTM17021 Occupational or company pension schemes
IHTM17022 Personal pension plans
IHTM17023 Retirement annuity contracts
IHTM17024 Unapproved schemes
IHTM17030 What a pension scheme provides

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IHT claims on contributions to a pension scheme

IHTM17041 Introduction
IHTM17042 Assignment of death benefits whilst retaining retirement benefits
IHTM17043 Contribution to a pension scheme for the benefit of another

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IHT claims on death benefits

Payments forming part of death estate

IHTM17052 Deceased's estate has a right to claim the death benefits
IHTM17053 Death benefits payable at discretion of trustees
IHTM17054 Option to have payment made to personal representatives
IHTM17055 Pension continues after death
IHTM17056 Pension ceases on death
IHTM17057 Other payments

Lifetime transfers of death benefits

IHTM17071 Assignment of death benefits
IHTM17072 Transfer between pension schemes
IHTM17073 Gifts with reservation and statement of practice SP10/86

Claim on general power to dispose of death benefits

IHTM17081 Introduction
IHTM17082 Power of appointment
IHTM17083 Nomination
IHTM17084 Letter of wishes

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IHT claims on retirement benefits

IHTM17091 Normal retirement
IHTM17092 Tax Bulletin
IHTM17093 Ill health retirement

Income draw down

IHTM17101 Introduction
IHTM17102 The ABI guidance note
IHTM17103 Lifetime claims on income draw down
IHTM17104 Death claims on income draw down
IHTM17110 Phased retirement plans

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IHT charges on pension schemes as settled property

IHTM17121 Approved schemes
IHTM17122 Unapproved schemes
IHTM17123 IHT treatment after the death where death benefits are held on discretionary trusts
IHTM17124 Death benefits appointed by scheme administrators within two years of the death
IHTM17125 The identity of the settlor
IHTM17126 The ten-year charge where death benefits are settled on discretionary trusts

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Further information on occupational schemes

IHTM17131 Protected rights
IHTM17132 Crown, local authorities and overseas governments
IHTM17133 Additional voluntary contributions

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Overseas pensions

IHTM17140 Overseas pensions

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Stakeholder pensions

IHTM17141 Stakeholder pensions

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Divorce or dissolved civil partnership and pensions

IHTM17151 Introduction
IHTM17152 Pension earmarking where death benefit held on discretionary trusts
IHTM17153 Pension earmarking where death benefit is not held on discretionary trusts
IHTM17154 Pension sharing

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Pensions on or after 6 April 2006

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Introduction to pensions on or after 6 April 2006

IHTM17300 Glossary A to F
IHTM17301 Glossary L to U
IHTM17302 UK Registered Schemes
IHTM17303 Unregistered Schemes
IHTM17304 Types of pension provision
IHTM17305 Main elements of the new regime
IHTM17306 Retirement age
IHTM17307 Death in Service Benefits
IHTM17308 Pension choices on or after 6 April 2006
IHTM17309 Pension Choices re Protected Rights

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Annuity Purchase

IHTM17320 Guaranteed annuities
IHTM17321 Value Protected Annuities

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Unsecured Pensions

IHTM17330 Background
IHTM17331 IHTA 1984 S12(2A)-(2G)
IHTM17332 Circumstances where no claim to Inheritance Tax
IHTM17333 The legislation in detail
IHTM17334 Where member in ill health when Unsecured Income commenced
IHTM17335 Examples of a ‘pension disposition’
IHTM17336 The charge to tax under IHTA84/S3(3)

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Alternative Secured Pensions

IHTM17350 Background
IHTM17351 How an Alternatively Secured Pension Fund can be used
IHTM17352 Broad outline of Inheritance Tax treatment
IHTM17353 Accountability and liability of scheme administrator
IHTM17354 Meaning of relevant dependant

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Alternatively Secured Pensions ─ the position from 6 April 2006 to 5 April 2007

IHTM17355 Death of scheme member
IHTM17356 Death of/ceasing to be a relevant dependant
IHTM17357 Death of dependant (other than relevant dependant)
IHTM17358 Surplus paid to employer

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Procedure

IHTM17370 For charge under s151A
IHTM17371 For charge under s151B
IHTM17372 For charge under s151C
IHTM17373 Closing a cases where no charge arises on member’s death
IHTM17374 Accounts to be delivered no charge arises on member’s death
IHTM17375 Excepted Estates

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Alternatively Secured Pension ─ Position from 6 April 2007

IHTM17400 Background
IHTM17401 Consequences for IHT position
IHTM17402 Unauthorised payments (UP)
IHTM17403 Interaction of UP charge with Inheritance Tax
IHTM17404 Changes to procedure for s151A charge
IHTM17405 Changes to procedure for s151B charge
IHTM17406 Changes to procedure for s151C charge
IHTM17407 Example of grossing up unused NRB
IHTM17408 Example where Inheritance Tax due first
IHTM17409 Example where UP charge first
IHTM17410 Example where UP charge first on part of ASP funds
IHTM17411 Example where first calculation leaves some NRB unused
IHTM17412 Example where charge on relevant dependant’ death
IHTM17413 Amendments to s151A-C
IHTM17414 No double charge under s151A and s151C

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When scheme member cannot be traced


IHTM17450 Pension Scheme rules
IHTM17451 The IHT position

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Unregistered Schemes: EFRBS

IHTM17500 Treatment before 6 April 2006
IHTM17501 Treatment on or after 6 April 2006
IHTM17502 Charge on failure to take retirement benefits under IHTA/S3(3)
IHTM17503 Payment of death benefits
IHTM17504 Reservation of benefit
IHTM17505 Gift with reservation claim
IHTM17510 Discretionary Trust charges
IHTM17511 No additional contributions on or after 6 April 2006
IHTM17512 All contributions on or after 6 April 2006
IHTM17513 Contributions both before and after 6 April 2006
IHTM17514 Where no charge arises
IHTM17515 After pension comes into payment
IHTM17516 2 year exemption period
IHTM17517 UURBS

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Lump Sum paid at trustees discretion : 2 year concessionary period

IHTM17530 Previous concessionary practice

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Excepted Group Life Policies

IHTM17550 Background
IHTM17551 Treatment before 6 April 2006
IHTM17552 Treatment on or after 6 April 2006
IHTM17553 Exit and periodic charges
IHTM17554 Rate applied to exit charges between TYAs
IHTM17555 Payment of death benefits
IHTM17556 Payment of premiums

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Scheme Pensions and Lifetime Annuities

IHTM17600 Background
IHTM17601 Tax charges now imposed
IHTM17602 S151(D) and (E)IHTA
IHTM17603 Accountability and liability
IHTM17604 Examples of s151D charge
IHTM17605 Interaction with the transferable nil rate band

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