Related topic: inheritance tax

Changes to capital gains tax, dividend allowances, inheritance thresholds, and pension reliefs are all on the table as the Chancellor aims to plug an estimated £22bn to...

LCP says more needs to be done to ensure that pension schemes become aware of the death of a member as soon as possible.

25% of over 55s are actively not taking any action to account for the pension changes.

Dave Harris, CEO at more2life, explores why Inheritance Tax is becoming a more prominent element in later life lending decisions.

PIMFA says the changes could lead to bereaved individuals and families facing unfair costs and delays.

Key highlights the need for specialist advice on tax and income risks when gifting from pensions and property.

Proposals under review include potential changes to how wealth can be passed on before death to reduce inheritance tax liabilities. 

Advisers are urged to focus on the Consumer Duty challenge posed by the inclusion of unused pension funds in estates.

From 6 April 2027, most unused pension funds and death benefits will be included in the value of an individual’s estate for IHT purposes.

Key is calling for advisers to focus on the later life lending advice obligation created by changes in IHT rules coming into effect in April 2027.