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Death duties - an old form of tax, now normally used colloquially rather than technically.

Decreasing Term Assurance - a life insurance policy where the sum assured reduces during the policy term. These policies usually provide the maximum initial cover for the lowest cost e.g. Family Income Benefit policies.

Deeds of variation - a device by which a Will can be changed after death. Requires the agreement of all the beneficiaries. Not to be relied upon for estate planning purposes.

Deferred annuity - some pension contracts require that a annuity be purchased on retirement. Some allow this to be delayed, ie deferred.

Defined Benefit Arrangements - Benefits are determined by certain criteria, and are NOT dependent on the amount of any fund. The most common type is a "Final Salary" scheme where the benefits depend on your salary, length of service and the scheme basis.

Defined Benefit Pension Schemes - a type of pension scheme in which your benefits are determined by contract rather than fund size. Normally only provided by large employers.

Defined Contribution Pension Scheme - a type of scheme where your pension is determined by the size of fund that you have built up.

Discretionary Trust - a type of Trust

Disposal - for Capital Gains Tax purposes a disposal is an event that requires a gain/loss to be calculated. Normally equates to a sale, but gifting assets can also create a disposal i.e. it is possible for a tax liability to be generated even when cash isn't.

Dividend - income derived from shares.

Domicile - tax term that means "home" affects how you are taxed. In practice it is only relevant to those who have come to the UK from abroad, or those born in the UK who move overseas.

Dynamisation - calculating the real value of an historic salary. Normally only applies to people who are seeking to maximise the benefits from a company pension scheme