US EditionReeves’s inheritance tax raid to cost average homeowner £82,000: Report
Unspent pension savings will count toward inheritance tax, potentially raising £1.5 billion annually by 2029-30 and nearly doubling receipts due to frozen thresholds and tax changes.
- Chancellor Rachel Reeves changed inheritance tax rules in the last autumn Budget, causing single homeowners to face death duties over £80,000 from April 2027.
- These changes include unspent pension savings counting towards estates for IHT regardless of death age, reversing previous rules exempting pensions under 75 from IHT.
- An individual of working age living alone in England, owning a property valued at £290,395 and holding a pension pot of £415,000, might incur an inheritance tax liability of £82,158, while unmarried couples living together do not benefit from spousal tax relief safeguards.
- Jon Greer of Quilter called taxing inaccessible pensions "optically terrible for the Government" and warned these rules could worsen grief by adding large financial burdens.
- The amendments threaten to limit estate planning freedom for many middle-income families and may impose significant costs during vulnerable times.
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UK households worth £290,000 could face £80,000 inheritance tax bill - Birmingham Live
A new analysis from Quilter has shown that a working-age single homeowner in England with a home worth £290,395 and a moderate pension pot of £415,000 could face an IHT bill of £82,158.
·Birmingham, United Kingdom
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Rachel Reeves' deceitful tax will leave you £82k poorer. And that's not even the worst of it - Kelvin MacKenzie
When a Chancellor kicks the can down the road, it’s never good news for the taxpayer. You can double that with Rachel Reeves. She learned it all from Gordon Brown, the master of lies and financial deceit.You may remember last October she announced, with the minimum of fanfare, unused pension pots will from 2027 (can kicked!) be included in your estate, making them subject to a tax of up to 40 per cent.What she didn’t make clear, for very good re…
·London, United Kingdom
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Coverage Details
Total News Sources11
Leaning Left1Leaning Right4Center2Last UpdatedBias Distribution57% Right
Bias Distribution
- 57% of the sources lean Right
57% Right
14%
C 29%
R 57%
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