Displaying items by tag: IHT

As the year draws to a close it seems appropriate to keep with tradition and reflect on what has happened in a defining year for pension tax rules.

The majority (95%) of financial advisers believe that the incoming inheritance tax liability on pensions is their clients’ greatest current financial concern, according to a new report.

Despite all the pensions-related fear and speculation that swirled around in the media during the weeks leading up to the Budget on 30 October, it was more of a case of ‘what didn’t happen to pensions’, rather than what did.

From a pensions point of view the biggest news from the Budget was undoubtedly the fact that from 6 April 2027, pensions will fall into the deceased’s estate and therefore be liable for inheritance tax.

From April 2027 inherited pension pots will be subject to inheritance tax (IHT), Chancellor Rachel Reeves announced today in her Budget.

A former Pensions Minister and retirement expert has attacked the government’s Budget day decision to include pensions and pension death benefits within estates for inheritance tax (IHT) purposes.

Two out of five married couples are keeping their families in the dark when it comes to their plans for passing on wealth, new research suggests.

Inheritance tax planning is a major driver for 58 to 75 year olds seeking regulated financial advice.

Inheritance tax receipts for April 2021 to February 2022 hit a new record high of £5.5bn.