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Supreme Court hears final appeal in long running inheritance tax case


The long-running case of HMRC v Parry, which looks at the extent to which inheritance tax can be applied to pension pots, enters the Supreme Court today.

Farrer & Co is acting for the taxpayers, who will be represented in court by David Rees QC and Hugh Cumber of 5 Stone Buildings.

The case, which began in 2014, centres on the tax treatment of a transfer between pension schemes made by Rachel Staveley shortly before her death. She transferred her pension from a scheme under which the death benefits would pass to her estate into a personal pension scheme, the assets of which she thought would fall to her sons, the taxpayers. The Court of Appeal held that the assets of her new pension should fall within her estate and therefore be liable to inheritance tax. This is being disputed by her sons.

Bryony Cove, partner at Farrers, says: "We are pleased that our clients have been granted permission to appeal to the Supreme Court. We look forward to the outcome.”

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