IHT on pensions changes slammed as 'unworkable' - PIMFA

Under the proposals, personal representatives (PRs) - executors and administrators of a deceased person's estate - must report and pay IHT within six months of death or risk interest charges. However, pension schemes have up to two years to determine who should receive discretionary pension benefits. PIMFA noted that this means PRs could be "forced" to either file potentially inaccurate IHT accounts, risking errors and overpayments, or delay filing until pension decisions are made and risk paying interest charges on money they may not even owe. Platform firms within PIMFA said this ma...