Is tax payable on a death claim?

 

If you die before you’re 75, your beneficiaries can receive your remaining pension pot as a tax free lump sum – as long as your total pension savings are less than the lifetime allowance (£1,030,000 for the 2018/2019 tax year). If you die after you’re 75, your beneficiaries will have to pay tax at their personal income tax rate on any cash sum paid.

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