Statement of Practice 10 (1986)
Published 9 July 1986
© Crown copyright 1986
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The Commissioners for HM Revenue and Customs confirm that their previous practice (see Statement of Practice E3) of not charging Capital Transfer Tax on death benefits that are payable from tax-approved occupational pension and retirement annuity schemes under discretionary trusts also applies to Inheritance Tax.
The practice extends to tax under the ‘gifts with reservation’ rules as well as to tax under the ordinary Inheritance Tax rules.