The Taxation of Private Pension Schemes and their Beneficiaries

The Taxation of Private Pension Schemes and their Beneficiaries provides a detailed analysis of the UK regime applicable to domestic and international pension schemes, including tax reliefs, allowances, and unauthorised payments.

Format: Paperback / softback
Publication date: 31 October 2022
Publisher: Sweet & Maxwell Ltd

The Taxation of Private Pension Schemes and their Beneficiaries is a comprehensive guide that delves into every facet of the UK regime applicable to domestic and international pension schemes. In Part One, we explore the diverse tax reliefs and exemptions granted to registered pension schemes, including the annual and lifetime allowances, as well as the regulations governing unauthorized payments.

We also examine the tax implications for scheme members, including the taxation of pension income, lump sum distributions, and the use of retirement savings accounts. Furthermore, we discuss the tax treatment of pension transfers, including the rules governing transfers between different types of pension schemes and the potential tax consequences for both the transferring and receiving parties.

Part Two of the guide focuses on the tax treatment of pension beneficiaries, including the rules governing the taxation of death benefits, annuities, and other retirement income. We also explore the tax implications for non-UK residents and the potential for double taxation agreements to mitigate tax burdens.

Finally, we provide an overview of the recent changes to the UK taxation of private pension schemes, including the introduction of the Lifetime Allowance and the changes to the tax rates for higher-rate pension taxpayers.

In conclusion, The Taxation of Private Pension Schemes and their Beneficiaries is an essential resource for anyone involved in the UK pension industry, whether you are a scheme administrator, a pension fund manager, or a pension beneficiary. It provides a detailed analysis of the tax regime and offers practical guidance on how to navigate the complex tax landscape effectively.

The Taxation of Private Pension Schemes and their Beneficiaries is a comprehensive guide that delves into every facet of the UK regime applicable to domestic and international pension schemes. In Part One, we explore the diverse tax reliefs and exemptions granted to registered pension schemes, including the annual and lifetime allowances, as well as the regulations governing unauthorized payments.

We also examine the tax implications for scheme members, including the taxation of pension income, lump sum distributions, and the use of retirement savings accounts.

Furthermore, we discuss the tax treatment of pension transfers, including the rules governing transfers between different types of pension schemes and the potential tax consequences for both the transferring and receiving parties.

Part Two of the guide focuses on the tax treatment of pension beneficiaries, including the rules governing the taxation of death benefits, annuities, and other retirement income.

We also explore the tax implications for non-UK residents and the potential for double taxation agreements to mitigate tax burdens.

Finally, we provide an overview of the recent changes to the UK taxation of private pension schemes, including the introduction of the Lifetime Allowance and the changes to the tax rates for higher-rate pension taxpayers.

In conclusion, The Taxation of Private Pension Schemes and their Beneficiaries is an essential resource for anyone involved in the UK pension industry, whether you are a scheme administrator, a pension fund manager, or a pension beneficiary. It provides a detailed analysis of the tax regime and offers practical guidance on how to navigate the complex tax landscape effectively.

ISBN-13: 9780414105744
Edition number: 5 ed