IHT Re-Furb gets another refurb

The 2008 UK Finance Bill contains proposed changes that rectify a UK inheritance tax problem with non-UK pension funds. When the pension regime was reformed in the UK several years ago, a potential problem was inadvertently created in relation to inheritance tax. Previously, there was a general exemption from IHT in respect of pension funds, regardless of whether the scheme was UK or non-UK resident. However, Finance Act 2004 restricted this general exemption to 'Registered Pension Schemes' only. Only UK-resident pension schemes are capable of being Registered Pension Schemes. Areas o...