HMRC Inheritance Tax Rule Change Will Make Grieving for Loved Ones Harder

HMRC Inheritance Tax rule change will make grieving for loved ones harder

The Labour Party government has confirmed that it will bring pensions into the scope of Inheritance Tax from April 6, 2027.

Inheritance Tax rule change makes it harder for families when a loved ones dies

A HUGE change to Inheritance Tax and pensions has been confirmed this week in a blow to grieving families.The Government has confirmed that it will br

Pension inheritance tax paperwork nightmare – how to prepare to avoid penalties

Pensions will be included in inheritance tax calculations from April 2027 and in a shock move, your executors will have to shoulder the burden of finding all your unused pots

New data shows IHT free gifts soar 177% as families race to dodge Reeves' cuts to key IHT reliefs - IFA Magazine

The value of “gifts out of surplus income” rose 177% to £144 million in the 2023/24 tax year, up from £52 million in 2022/23, according to research by TWM Solicitors. The ‘gifts out of surplus income’ rule allows taxpayers to give away money without paying inheritance tax (IHT).  Unlike the “normal” form of gifting the donor does not have to survive for seven years after the gift for the gift to be exempt for IHT. That makes gifts out of surplus…

Families face red tape nightmare with inheritance tax on pensions from 2027

Bereaved families will face increased financial and administrative pressure following the government’s decision to include pensions in inheritance tax (IHT) calculations from April 2027, despite widespread opposition from both the public and the pensions industry. Under the new rules, pension pots will be treated as part of an individual’s estate when calculating inheritance tax liabilities. The Treasury expects the policy to raise £1.46 billion…

Average IHT bill to increase by £34,000 following inclusion of pensions in IHT calculations | Today's Wills and Probate

The average Inheritance Tax liability is expected to increase by around £34,000 when pension assets are included in the value of the estate