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.