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HMRC internal manual

Inheritance Tax Manual

Pensions: IHT exclusions: rights to a pension or annuity

Under IHTA1984/S151, the value of an interest in:

that comes to end on the death of the person entitled to it is excluded from the value of their estate if the interest:

  • is, or is a right to, a pension or annuity
  • is not a benefit provided otherwise than by way of a pension or annuity.

Lump sum death benefits do not fall within this exclusion.