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Pension transfers and IHT implications – latest news

In the long running Staveley case, the Supreme Court has finally ruled by a majority vote that the pension transfer made in this case when the transferor was in serious ill-health was not liable to IHT.

In a brief summary of the case: in December 2006, Mrs Staveley died having been in serious ill-health. Shortly before her death, she had transferred funds from her existing pension scheme (a section 32) into a personal pension plan (PPP). She didn’t take any pension benefits at all during her life and, in those circumstances, a death benefit was payable under the PPP.

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