Seismic shift: Government pushes ahead with pension IHT reforms

The government has confirmed it is pushing ahead with its plan to bring discretionary pension scheme death benefits within the scope of inheritance tax (IHT) for the first time. This announcement was probably not a surprise, although some in the pension industry had been trying to persuade the government to either abandon the plan or at least modify it. A policy paper was published on the same day, in which the Exchequer impact is estimated to bring in an additional £1.46bn to the treasury by 2029 to 2030. There were two concessions made, which have been welcomed by pension commen...