Post-Budget IHT planning: Gifting options in light of pension changes

Withdrawals need to be spent, sheltered or gifted

clock • 4 min read

Andrew Tully looks at the greater need for careful IHT planning after Budget changes brought unused pension funds into play...

The HM Revenue & Customs (HMRC) consultation on the inclusion of pensions within the scope of inheritance tax (IHT) from April 2027 has recently closed. Hopefully, HMRC will consider other options which may provide a better outcome for customers, beneficiaries, personal representatives and the industry.  Meanwhile, thoughts will start to move towards planning. For those with greater wealth, for the last ten years, pensions have often been one of the last options used to generate income. Other wrappers have been accessed first with pensions left until last due to their IHT efficiency. ...

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