Tax rise on inheritance from ARFs ?

[Early Riser]

There is an article in today's Sunday Times describing a recommenadtion that both CAT and Income Tax be applied to any ARF inheritances. This comes from an advisory group from the Civil Service and Revenue. The rationale is that the current system incentivises the use of ARFs for estate planning rather than retirement planning.

Government advisers call for tax rise on pensions 'inherited' at 30% rate

The government has been urged to crack down on the use of pensions for tax-efficient inheritance planning by hitting adult children with a tax bill of up to 67%

www.thetimes.co.uk

 

[Sarenco]

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