HMRC has taken on board concerns from the pensions industry about its previous proposals for bringing many pension death benefits within the scope of inheritance tax (IHT). On 21 July 2025, HMRC issued a Policy Paper and...more
The Autumn Budget announced that from 6 April 2027, the majority of death benefits paid from registered pension schemes (whether DB or DC) will form part of the deceased member’s estate for inheritance tax (“IHT”) purposes....more
The Autumn Budget contained the following key announcements affecting occupational pension schemes...more
Autumn Budget 2024: bringing pensions into the scope of IHT - The Chancellor announced in her Budget Speech that from April 6, 2027, unused pension funds and death benefits will be included within a member’s estate for...more
Today's Budget brought some good news: Despite recent speculation, National Insurance contributions (NICs) will not be charged on employers’ pension contributions; and No changes were announced to members’ tax-free lump sums....more