Parry & ors v HMRC Appeal number: TC/2012/7106

September 2014 #142

Under the terms of her divorce settlement, Mrs Staveley (the deceased) received a share of a company pension scheme. She was advised that her only option was to transfer this to a ‘s32 buyout’ policy. Under this policy funds could revert to the company which would potentially benefit her ex-husband. The divorce had been acrimonious and she desperately wanted to avoid that happening. However, it became apparent that the s32 policy was her only option and in July 2000 she transferred her fund of £571,715 to the s32 policy. Evidence demonstrated that the deceased remained unhapp...