Paying IHT on pensions: The potentially 'gruelling' process for personal representatives

One of the key changes that the government announced in its October 2024 budget was that as from 6 April 2027 unused pension value (pension property) will be subject to inheritance tax  on the death.   This is a significant change, mainly for families who will suffer the burden of a larger IHT bill but also for the pensions industry and private client advisors who have been keen to understand exactly how this additional IHT will be paid and where obligations and duties will sit between them.   There has been steady progress in the provision of details and the government's most recent ...