Global Market Bulletin for March 2015

With the UK Budget only days away, investors should be braced for changes to pension higher rate tax relief and trust changes for inheritance tax mitigation, though whether the Government would make wholesale changes ahead of an Election is doubtful.  One very important aspect of the greater pension flexibility from April 2015, is the necessity to ensure pensions are written in trust.  Most are these days but old-style pensions, especially Section 226s and Retirement Annuity Contracts, were not always written in trust.  Since the new law allows pension funds to pass through the generations, having the fund in trust to ensure it doesn’t form part of the deceased’s estate for inheritance tax evaluation is of crucial importance.

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