The House of Lords Finance Bill Sub-Committee has launched a call for evidence looking at the government’s proposals to apply inheritance tax (IHT) on pensions.
The committee is inviting responses on how the reforms will work in practice, as well as whether the government has sufficiently considered the impact of the reforms on personal representatives and pension schemes. This comes after HM Revenue & Customs (HMRC) published draft Finance Bill legislation in July, confirming it plans to go ahead with the proposals from April 2027. The government's technical consultation on proposals to introduce an IHT liability on unused pension assets on death from April 2027 closed in January. Chancellor Rachel Reeves' plans, first announced in her A...
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