Alternative ways for the government to implement inheritance tax (IHT) on pensions have been put forward by industry experts looking to simplify the existing plans.
An HM Revenue & Customs (HMRC) technical consultation on the issue – which plans to impose IHT on unused pension funds and death benefits from April 2027 - was opened after the Autumn Budget announcement and closed today (22 January). Quilter head of retirement policy Jon Greer said the provider recognised the need to raise tax revenue but the current proposals "risk creating significant problems for families, adding unnecessary complexity and delays at a time of grief". Greer said: "Under the current proposals, grieving families could face lengthy delays as executors are required to ...
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