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Changes to Pension Taxation

23/12/2014

The punitive 55% tax charge on the withdrawal of non-exhausted pension pots after death will be abolished from 6 April 2015, allowing people more flexibility to plan to pass the balance of their pension savings on to family after death by nominating beneficiaries to inherit.

This has led to suggestions that pension funds could become a very useful vehicle for tax-efficient passing of wealth down the generations.

The full detail of the proposed changes is though still awaited.

For more information on this story or for any other Taxation query, please contact Eamonn Daly on 01789 206142 or by drop him an email.

Eamonn Daly Chartered Tax Adviser with Lodders Solicitors

Eamonn Daly, Lodders Solicitors

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