Paying a Lifetime Allowance Charge from Death Benefits

Back to Case Studies

If a client dies before age 75 with uncrystallised funds and the death benefits are distributed to the beneficiaries within two years, those uncrystallised funds will be tested against the lifetime allowance. The process for testing the funds and paying the tax charge differs from the process for benefit crystallisation events during a client’s lifetime. This guide is only intended to outline the basic steps. Further guidance can be found by searching ‘PTM088550’ from gov.uk.

Case Study

Paying a Lifetime Allowance Charge from Death Benefits

pdf | 105 KB
Download

Our secure
portal

Your Future SIPP

Curtis Banks

Suffolk Life

Tell us what you are
looking for?