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Pensions: Inheritance Tax

Asked by John GlenConservativeTreasuryTabled Answered 22 November 2024UIN 14299

The question

To ask the Chancellor of the Exchequer, with reference to paragraph 5.52 of the Autumn Budget 2024, HC 295, whether the application of inheritance tax to unused pension funds and death benefits will apply to the (a) BBC and (b) Channel 4 defined benefit pension scheme.

Answered by Darren Jones

As announced at Autumn Budget 2024, from 6 April 2027 most unused pension funds and death benefits will be included within the value of a person’s estate for Inheritance Tax purposes

This change will apply to all UK registered pension schemes

The impact this will have on specific schemes depends on their scheme rules.

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