Inheritance tax changes that bring unused pension pots under its scope for the first time should prompt advisers to shift their estate planning mindset from passive to active, experts have said.
Speaking at PA360 last month, delegates heard the views of tax planning experts, Downing associate director, strategic partnerships Andrew Baird and WBR Group head of pensions technical Mark Plewes, who debated the reimagined IHT landscape. The pair outlined what advisers must do to protect clients and said that included taking a more active stance on estate planning. Plewes said the approach to estate planning had "flipped" in light of IHT on pensions, which comes into effect in April 2027. "We're now in a situation where those assets in certain circumstances are going to be inclu...
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