The House of Lords Economic Affairs Finance Bill Sub-Committee has proposed various changes to the government’s inheritance tax (IHT) rules and has criticised Labour’s approach to the measures.
Its report on the government's Draft Finance Bill 2025-26 published today (28 January) has warned that the government's IHT on pensions rules, due to come into force on 6 April next year, will place a ‘huge burden' on personal representatives (PRs). The committee's report covered various measures relating to IHT, including reforms to the IHT treatment of unused pension funds and death benefits, as well as the reforms to agricultural and business property reliefs (APR and BPR). It also stated that one of the most significant issues raised during the committee's inquiry is the burden t...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
