Special lump-sum death benefits charge

A 55% tax charge introduced by the Finance Act 2011 with effect from 6 April 2011. The charge applies to several forms of lump-sum death benefit that may be paid by a registered pension scheme (www.practicallaw.com/5-201-6474), including a defined benefits lump-sum death benefit (www.practicallaw.com/8-204-0458) or an uncrystallised funds lump-sum death benefit (www.practicallaw.com/2-216-2952) if either is paid in respect of a deceased member who had reached the age of 75 when he died.

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