Keeley Paddon: What are the key points of Pensions Schemes Newsletter 78?

Serious ill-health lump sums, tapered annual allowance and UFPLSs

clock • 4 min read

No doubt HMRC's latest Pension Schemes Newsletter is on your holiday reading list but, until you get around to unpacking it, Keeley Paddon offers this summary of its key points

At the end of May, HM Revenue & Customs (HMRC) issued Pensions Schemes Newsletter 78 - and it was substantial, to say the least. I would always recommend reading HMRC updates in full but, until you have enough time to tackle it yourselves, here is a summary of the key points. Serious ill-health lump sums - the rules have changed again The Finance Bill, introduced to Parliament on 12 April 2016, extends the circumstances in which a serious ill-health lump sum may be taken. Currently, even if the other criteria are met, a serious ill-health lump sum cannot be taken from an arrangement ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Tax planning

Record year for IHT as receipts reach £8.5bn

Record year for IHT as receipts reach £8.5bn

Experts note rate of increase is slowing

Sophia Panayi
clock 23 April 2026 • 3 min read
Are you and relevant clients ready for Making Tax Digital?

Are you and relevant clients ready for Making Tax Digital?

Is this new regime actually simpler for clients?

Alex Ranahan
clock 15 April 2026 • 5 min read
Andrew Tully: The IHT on pensions illiquid assets challenge

Andrew Tully: The IHT on pensions illiquid assets challenge

'The need for advice is clear'

Andrew Tully
clock 10 April 2026 • 4 min read