SIPP - IHT implications

[Colin61]

I have a SIPP in my own name.

My understanding is that I can leave this to my wife in my will and there will be no IHT, CGT or income tax due .. until she draws down from the SIPP when it would be classed as Income.
When my wife were to die, if she left the SIPP to our only son, would it be tax free for him?

Alternatively, could I leave the SIPP to my son and he enjoy the same benefits... of no tax due until he drawsdown.

Thanks, Colin

[pawncob]

https://www.ii.co.uk/ii-accounts/sipp/inheritance-tax

[Colin61]

https://www.ii.co.uk/ii-accounts/sipp/inheritance-tax

Thank you.

So if we left the SIPP to our son, could he retain it as a SIPP, not drawdown any income until he retired and then be taxed as regular income?

[SuperSpurs106]

Yes, that's correct.

[cliffordpope]

I have a SIPP in my own name.

My understanding is that I can leave this to my wife in my will

My understanding is that a pension passes by a letter of wishes to the pension provider, and is entirely separate from a will. Is that not correct?

[AGoodman]

it is correct. SIPP death benefits are not part of an individual's estate. The "owner" of the SIPP can nominate who should benefit from the fund after their death