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This is where our regulatory and legislative subject matter experts discuss the subjects that matter. Let’s talk tech.
Tax year end
On demand
Your tax year end planning essentials
To help with your client conversations, our Senior Technical Consultant, Lisa Webster, discusses everything you need to know ahead of 5 April, including:
- optimising pension contributions to avoid tax traps and the loss of funded childcare;
- making the most of key allowances, including rates for IHT gifting, CGT and venture capital trusts; and
- upcoming changes to taxation rates and allowances in April 2026 and subsequent years.
Make TYE easy as ABC: get the tools and guidance you need, all in one place.
Technical guides
Make sure you’re well prepared for client conversations, with our Technical Team’s expert guidance.
Access our library
There’s a range of updates to help you stay informed, and confidently navigate the latest industry developments, including:
- pension contributions;
- pension benefits;
- transitional arrangements; and
- ISAs.
Plan with confidence: the latest on pensions and IHT
Get to grips with the ever-changing pensions and inheritance tax (IHT) landscape.
Help clients make tax-efficient charitable gifts from their pensions
With IHT changes coming in 2027, knowing when pension gifts can be made tax free could help reduce both income tax and IHT for your clients.
Big changes ahead
From April 2027, most pensions will fall within the scope of IHT, fundamentally changing how death benefits are treated and planned for.
To help you understand the practical impact, our update looks at the key areas you need to watch, including:
- key points from the technical consultation
- how IHT on pensions will be paid; and
- potential problems and complexities you need to plan for.
Even more expertise with our dedicated pensions and IHT area
Gain clarity on the potential implications of including pensions in inheritance tax. On this page, you’ll find:
- a brief recap video;
- in-depth articles, and
- more resources to help you navigate the topic with confidence.
Methods of claiming pension tax relief
Understand the four ways clients receive pension tax relief
Find out how each method works and the key changes you should be aware of, including upcoming rule changes to salary sacrifice.
Public policy updates
An overview of recent regulatory updates to help you stay ahead of changes and plan with confidence.
Important changes to watch this year
We’ve pulled together the key changes you need to know about, plus the early actions that could help your clients stay on the front foot.
Policy FAQs
Prepare for client conversations with this overview of upcoming tax, ISA and pensions changes.
- How can I help my clients get ready for inheritance tax on pensions?
- What are the new rules for ISAs?
- What will replace lifetime ISAs?
- When is the next rise in state pension age?
- When will Pensions Dashboards be launched?
The rules for including pensions in IHT calculations are set to be released this summer.
These will help you design processes for how you can help your clients’ families cope with this new administrative headache. You may also want to help your clients get ready for this change – for example, by considering consolidating pensions to reduce the number of pension schemes involved in working out IHT due.
The amount people under age 65 can save in a cash ISA each year will be reduced from £20,000 to £12,000 from 6 April 2027.
At the same time, we will get new rules on stocks & shares ISAs to stop people from circumventing the rules. For example, transfers from stocks & shares ISAs to cash ISAs will no longer be allowed for those aged under 65. There will be more information from the Treasury later this year.
The Treasury will soon consult on the rules for a new type of ISA aimed to only help people get on the housing ladder.
Once this new product is launched, the lifetime ISA will close to new entrants, although hopefully account holders can continue to pay into them, receive bonuses, and use them for house purchases or retirement funding.
The state pension age will start to gradually rise from 66 to 67 from April 2026.
Those born between April 1690 and 5 March 1961 will have a state pension age of 66 plus a few months. They can check their exact age on the Government website.
By 31 October 2026, all pension schemes must connect to the Pensions Dashboard.
Once the DWP is happy all connections are working, that most people will be able to receive information on all their pension schemes, and that the user experience is excellent, then they will announce the launch date for the MoneyHelper Pensions Dashboard. This could be the first half of next year.
Delivered straight to your inbox – expert insights on all the latest regulatory and legislative changes impacting you and your clients.
Bitesize Technical
Delve into our range of short, easily digestible videos on key technical challenges.
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Pension protection overview
When the lifetime allowance was introduced back in 2006, two forms of pension protection were introduced, and further forms were added each time the lifetime allowance was cut.
As part of our Bitesize Technical series, Senior Technical Consultant Lisa Webster looks at how these protections work under the new post-lifetime allowance regime.
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Enhanced protection explained
As part of our Bitesize Technical series, Senior Technical Consultant Lisa Webster looks at issues like:
- why enhanced protection was introduced;
- what conditions needed to be met to qualify for it;
- what the benefit was of holding enhanced protection; and if lump sum protection could be held with enhanced protection.
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Primary protection explained
As part of our Bitesize Technical series, Senior Technical Consultant Lisa Webster breaks down:
- why primary protection was introduced;
- what conditions needed to be met to qualify for it;
- the benefit of holding primary protection; and
- what it means to hold primary protection now that the LTA has been abolished.
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Overseas pensions transfers explained
Our Senior Technical Consultant, Joshua Croft, explains the rules around overseas transfers, covering what gives a scheme QROPS status and more.
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Transfers where members have protection
Our Senior Technical Consultant, Joshua Croft, discusses what happens to scheme-specific protections on transfer.
Topics covered include:
- the rules around transfers where members hold protection;
- the transfers which qualify as a block transfer;
- transfers that aren’t eligible for block transfers; and
- necessities for single transfer requests.
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Statutory right to transfer
The Pension Schemes Act 2021 restricts the statutory right to transfer pensions, unless specific conditions are met.
In this Bitesize Technical edition, our Senior Technical Consultant, Joshua Croft, breaks down the rules and looks in detail at:
- the different checks that are made by pension schemes;
- what happens if there are any red flags; and
- what occurs when statutory rights don’t exist.
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Pension transfers overview
A pension transfer involves relocating funds from one pension scheme to another. In the UK, most pension scheme members have a legal right to transfer, though certain conditions may apply.
As part of our Bitesize Technical series, Senior Technical Consultant Joshua Croft explains the rules surrounding pension transfers, covering topics like:
- what’s involved in the process;
- how transfers can be made; and
- if there are age restrictions.
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Pension sharing and the impact on protections
In some specific circumstances, pension sharing orders can impact those with protections.
In this short video, our Senior Technical Consultant, Joshua Croft, explains when pension sharing can impact protections, including:
- when protections may be lost;
- which protections are unaffected; and
- what disqualifying pension credits are.
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Pension offsetting
What does pension offsetting mean for your clients during divorce?
Our Senior Technical Consultant, Joshua Croft, explains as part of our Pensions and Divorce Bitesize Technical series.
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Pension earmarking overview
As part of our Bitesize Technical series, our Senior Technical Consultant, Joshua Croft, takes a look at what pension earmarking is, and how it works.
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Pension sharing orders
A Pension Sharing Order (PSO) ensures a clean financial break in a divorce by transferring the awarded share into the ex-spouse's chosen pension scheme, giving them full control over the investments and benefits.
Our Senior Technical Consultant, Joshua Croft, breaks down what PSOs mean for your clients.
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Charity lump sum benefits
What restrictions are there on charity lump sums paid from pensions? Senior Technical Consultant, Lisa Webster considers how the rules affect payments:
- with, or without nominations in place;
- on death pre-age 75;
- on death post-age 75; and
- when there are dependants to consider.
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Pensions and divorce overview
In this instalment of our Bitesize Technical series, Senior Technical Consultant, Joshua Croft guides us through the maze of rules governing how pensions are split on divorce. As pensions are a significant asset for consideration in these cases, Joshua discusses:
- the factors affecting ‘a fair split’;
- how a pension is split and transferred;
- why a court order is important; and
- the three methods of dealing with pensions in divorce cases.
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Death benefits overview
Defined contribution pensions can be a very tax-efficient way of passing money on to loved ones when the member dies.
In this short video, our Senior Technical Consultant, Lisa Webster, discusses:
- who can receive funds left in a pension;
- how death benefits are taxed; and
- if inheritance tax applies to pensions.
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Death benefit nominations
In her latest Bitesize video, our Senior Technical Consultant, Lisa Webster, explains how the rules around death benefit nominations work.
Topics covered include:
- how death benefits can be paid;
- which beneficiaries are eligible to receive death benefits;
- who is classed as a dependant and a nominee; and
- what happens when a beneficiary dies.
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Death benefits – how trustees exercise discretion
Trustees must make a ‘reasonable’ decision about who should receive any remaining pension funds following a member’s death.
Our Senior Technical Consultant, Lisa Webster, explains the factors trustees should consider when exercising their discretion, including:
- the laws they must follow;
- when trustees’ decisions can be challenged;
- how the expression of wish impacts decisions; and
- how advisers can help smooth the process.
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Inheritance tax and pensions
Our Senior Technical Consultant, Lisa Webster, looks into situations where a pension may fall within the deceased member’s estate.
In this video, she covers:
- the impact of binding nominations and contributions made when in ill-health;
- how much IHT could be payable; and
- whether all pension transfers in ill-health could be caught.
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Lump sums death benefits
What are the rules around lump sum death benefit payments from defined contribution pensions, and how are they treated for tax?
Our Senior Technical Consultant, Lisa Webster, explains the topics surrounding lump sum death benefits, including:
- key scenarios if a member dies before, on, or after their 75th birthday;
- lump sums paid to trusts; and
- offsetting special lump sum death benefits charges against income tax.
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Pension death benefits – taking income
What choices do dependants, nominees and successors have when taking benefits as a death benefit lump sum, compared to using the funds to provide a pension income?
To help you understand the different options and how they are treated for tax, our Senior Technical Consultant, Lisa Webster, outlines:
- the options for taking pension income;
- how the pension income is taxed; and
- advantages for clients taking death benefits as income.
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Small lump sums
In addition to common pension withdrawals, several other lump sums are available from registered pension schemes.
In this short video our Senior Technical Consultant, Joshua Croft, discusses:
- small pot payments;
- when trivial commutation lump sums are available; and
- winding up lump sums.
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Ill-health pension benefits
Our Senior Technical Consultant, Joshua Croft, explains when ill-health and serious ill-health can result in early access to pension benefits.
His latest Bitesize video includes information on:
- the basic requirements for ill-health retirement;
- when serious ill-health conditions are met; and
- how serious ill-health lump sums can be taken.
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Taxation of pension payments
Pension payments can sometimes be over-taxed due to the use of emergency tax codes, especially for one off withdrawals.
In this Bitesize video our Senior Technical Consultant, Joshua Croft, explains:
- how tax codes can impact pension payments; and
- how overpayments can be reclaimed.
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Scheme pensions explained
Our Senior Technical Consultant, Joshua Croft, explains the rules around scheme pensions.
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Capped drawdown
Join Senior Technical Consultant, Lisa Webster, as she outlines details around capped drawdown, including:
- the difference between capped drawdown and flexi-access drawdown;
- how to calculate the maximum income;
- timeframes in which income can be taken; and
- factors to consider if converting from capped drawdown to flexi-access drawdown.
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Uncrystallised Funds Pension Lump Sums
Uncrystallised Funds Pension Lump Sums (UFPLS) allow clients with defined contribution pensions to withdraw lump sums directly from their pension. Based on a 25% tax-free and 75% taxed as income split, Senior Technical Consultant Joshua Croft identifies key rules around UFPLS, including:
- how your clients can withdraw lump sums from their pensions with UFPLS without needing to enter income drawdown or purchase an annuity;
- limitations of the tax-free portion of UFPLS; and
- how UFPLS can offer flexibility to certain clients regarding certain withdrawal options.
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Lifetime annuities
Lifetime annuities are financial products, purchased from an insurance company, that convert retirement funds into income.
In this short video, Senior Technical Consultant Joshua Croft discusses:
- taking a tax-free PCLS before purchasing an annuity;
- whether an annuity can be used for income if the funds were already designated to drawdown;
- factors to consider, including how lifetime annuities are subject to tax; and
- what a guarantee period could mean for clients.
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Scheme pays
When an annual allowance charge arises, it may be possible for the pension scheme to pay the charge, rather than the member personally.
In this Bitesize video, Senior Technical Consultant Lisa Webster explains:
- the conditions that must be met for compulsory scheme pays;
- whether the scheme can pay the charge when the conditions aren’t met;
- who is liable for the annual; allowance charge under scheme pays; and
- how the member should report that they are using scheme pays.
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Contribution refunds
When it comes to pension contributions, the basic principle is that once the money has gone in, it can’t be withdrawn.
Our Senior Technical Consultant, Joshua Croft, identifies the very few circumstances where a contribution may be refunded.
You can expect to learn:
- conditions that must be met for contributions to be refunded;
- what an excess contribution is;
- when contributions can be refunded for a genuine error; and
- if contributions can be refunded when the annual allowance has been exceeded.
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Money purchase annual allowance
Senior Technical Consultant, Joshua Croft, explains how the Money Purchase Annual Allowance (MPAA) limits the maximum amount of pension savings your clients can make each year. He also reveals how the MPAA affects clients who have defined benefit accrual.
Watch the video now to learn more about:
- what ‘flexibly accessed’ means in relation to MPAA;
- which events do not trigger the MPAA;
- how the MPAA relates to carry forward; and
- how the annual allowance works in the year the MPAA is triggered.
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Carry forward
Carry forward enables clients to contribute more than the annual allowance, without incurring tax charges. However, there are some key factors to consider when calculating carry forward for your clients. Senior Technical Consultant, Joshua Croft, takes us through them all in the latest Bitesize Technical video.
Join Josh as he outlines:
- which clients are eligible to use carry forward;
- if there is a limit on the tax relief clients can receive on carry forward contributions; and
- how the tapered annual allowance impacts carry forward.
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Transitional arrangements
The lifetime allowance was replaced with new allowances on 6 April 2024. Watch as Senior Technical Consultant, Lisa Webster, walks you through the new regime and transitional arrangements.
Watch this Bitesize Technical to learn more about:
- the new lump sum allowance and lump sum and death benefit allowance;
- how the lifetime allowance usage impacts the two new allowances;
- if benefits that were crystallised under the old rules are tested again when a client passes; and
- when the standard transitional calculation is applied.
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Annual allowance
Senior Technical Consultant, Lisa Webster, explains the rules around the annual allowance, and the factors to consider when calculating the maximum allowable pension contributions.
Lisa explains:
- which clients the annual allowance applies to;
- what factors count towards the annual allowance;
- what happens when the annual allowance is exceeded; and
- if the annual allowance restricts tax relief.
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Tapered annual allowance
Tapered annual allowance aims to limit the amount of tax relief individuals with significant earnings can claim on their pension contributions.
Join Senior Technical Consultant, Lisa Webster, as she covers:
- how the tapered annual allowance works and applies to clients;
- the impact of the taper on the annual allowance; and
- whether clients will be able to use carry forward with the tapered annual allowance.
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Defined benefit accrual
Understand defined benefit pension arrangements in one three-minute bite, with Senior Technical Consultant, Joshua Croft.
Key topics covered in the video include:
- how the annual allowance is used in a defined benefit scheme;
- what the rules are around defined benefit accrual;
- how to calculate the annual allowance usage; and
- worked examples.
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Employer contributions
In this short video with Senior Technical Consultant Lisa Webster, you’ll learn how employer contributions are a tax-efficient way to remunerate employees.
Lisa will discuss:
- where employer contributions can be paid;
- how employers receive tax relief;
- an explanation of the ‘wholly and exclusively’ rule;
- salary sacrifice; and
- annual allowance and employer contributions.
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Third-party contributions
Senior Technical Consultant, Joshua Croft, takes us through the rules around third-party contributions in Bitesize form.
Key highlights in the video include:
- who could make a third-party contribution;
- who receives tax relief on the contribution;
- the limits on third-party contributions; and
- if third-party contributions can be made for non-earners.
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Net pay contributions
Senior Technical Consultant, Lisa Webster, delivers key worked examples on net pay as a method of providing tax relief on employee pension contributions.
Key points covered in the video include:
- which pension schemes can use net pay;
- how tax relief is given under net pay;
- advantages for higher and additional rate earners; and
- how net pay differs from salary sacrifice.
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Testing pension benefits
With the lifetime allowance abolished as of 6 April 2024, there are new rules on how benefits are tested when pensions are accessed. As a special stand-out Bitesize Technical session, Senior Technical Consultant Lisa Webster shares quick-bite information on:
- when benefits are tested in the member’s lifetime;
- how the new allowances work; and
- how death benefits are tested.
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Relief at source
Understand how relief at source works in practice as part of our Bitesize Technical series with Senior Technical Consultant, Lisa Webster.
As well as worked examples based on client scenarios, Lisa discusses:
- the tax relief the pension scheme will claim under relief at source;
- the tax relief that can be claimed by clients who pay more than 20% tax;
- whether non-taxpaying clients get tax relief on contributions; and
- how much clients can contribute and receive tax relief.
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Annual allowance, explained
Our Senior Technical Consultant, Lisa Webster, explains the rules around the annual allowance.
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Personal pension contributions
Senior Technical Consultant, Lisa Webster takes us through key points about personal pension contributions for your clients.
Key points covered in the Bitesize Technical video and article include:
- who can make personal pension contributions;
- who qualifies as a relevant UK individual;
- how much clients can contribute and still receive pension tax relief; and
- three types of relevant UK earnings.
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Flexi-access drawdown
Flexi-access drawdown was introduced after pension freedoms in April 2015 as a way to take income from a defined contribution pension with no annual limit.
In this short video, Senior Technical Consultant Lisa Webster outlines;
- what flexi-access drawdown is;
- the income flexibility it can offer clients as regular or ad hoc sums;
- how how pension commencement lump sums (PCLS) and money purchase annual allowance (MPAA) relate to flexi-access drawdown; and
- which clients are eligible
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Pension commencement lump sums
Our Senior Technical Consultant, Lisa Webster, identifies the rules around PCLS, including;
- when PCLS is typically taken by clients in wrapper schemes, annuities, and defined benefit schemes;
- what the maximum PCLS is in worked examples;
- limitations to PCLS based on clients' lump sum allowances; and
- timeframes that PCLS must be paid within
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Pension benefits overview
There are several key factors and restrictions to consider when organising how clients take pension benefits.
Our Senior Technical Consultant, Lisa Webster, outlines:
- lump sum withdrawal options, and the difference between pension commencement lump sums and uncrystallised funds pension lump sums;
- income options, such as flexi-access drawdown, lifetime annuity and defined benefit schemes; and
- other pension payments to consider
Upcoming CPD events
Luminary 2026
Various
TBC
Luminary promotes diversity within financial services and creates a learning network for like-minded professionals.
Connect 2026
Leeds and Manchester
28 and 29 July 2026
Our Connect sessions are designed to help paraplanners and adviser support staff expand their technical pensions and investment knowledge.
Stay up to date with our events
Online and in-person
Various
We host a variety of events throughout the year aimed at advisers, paraplanners and adviser support staff. Check out our full calendar of engaging, informative sessions today.
Meet our Technical team
Joshua Croft
Senior Technical Consultant
Josh studied Business Studies at the University of Lincoln before beginning to work in financial services, initially in defined benefit pension fund management and more recently in corporate workplace pensions and benefits. He joined the AJ Bell Technical Team in 2019, providing technical support to various teams, and is also involved in delivering technical training to staff.
Lisa Webster
Senior Technical Consultant
Lisa is an Economics graduate who has been in the financial services industry since 2003. Prior to joining AJ Bell in 2014 she spent nine years working in senior technical and consultancy roles at a major SIPP and SSAS provider. Lisa is part of our Technical Team, responsible for providing regulatory and technical analysis to the business and outside world. She is also a regular speaker at adviser events.
Tech Tuesday updates, direct from our Technical Team
Receive the monthly technical roundup, curated by our industry-renowned Technical Team, to help you stay on top of the regulatory and legislative subjects that matter.