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HMRC internal manual

Inheritance Tax Manual

Special trusts: pension funds

Approved superannuation schemes and approved personal pension arrangements are generally exempt from the charges on settled property.

But inheritance tax may be payable if

  • a member gives up part of their pension in order to provide for a person other than the spouse.
  • a member has the power to determine who shall receive a benefit on their death.
  • a benefit on the member’s death is payable to their estate.
  • a sum payable under the scheme is made the subject of a further settlement.

If you come across a settled pension arrangement, follow the further guidance at IHTM17123