Are annuity death tax changes a job 'half done'?

George Osborne's announcement of changes to the tax treatment of annuities was widely foreshadowed in the run up to the Autumn Statement. Under the changes, the 55% tax charge levied on beneficiaries of people who die under the age of 75 with a joint life or guaranteed term annuity will be abolished. Beneficiaries will receive future payments from such policies tax free where no payments have been made to the beneficiary before 6 April 2015. The tax rules will also be changed to allow joint life annuities to be paid to any beneficiary. If the annuitant dies after the age of 75 t...