Chancellor's plan for IHT on pensions is ill-thought out

Chancellor's plan for IHT on pensions is ill-thought out

Piet Johnson photography After a rocky first six months in charge of the nation’s finances, chancellor Rachel Reeves is in political ‘reset’ mode, with a clear focus on shifting the conversation away from ‘difficult decisions’ and towards the central challenge facing the UK – delivering sustained economic growth. The first stage of that reset took aim at the role of various regulators, including the Financial Conduct Authority, in both lubricati…

Spotlight on IHT Pension Changes

The 2024 Autumn Budget brought pensions firmly into the spotlight.  The biggest change, the removal of the inheritance tax (IHT) exemption for pensions (mainly affecting defined contribution schemes) starting from the 6 April 2027 has raised a lot of questions for individuals, pension providers, probate practitioners and the Government. The logistical implications of how estates and pensions will be reported to HMRC following a death and how the…