Inheritance Tax
The question
To ask the Chancellor of the Exchequer, what her Department's timetable is for (a) implementing and (b) publishing further information on its policy to bring unused pension funds and death benefits under an individual’s estate for inheritance tax purposes.
Answered by James Murray
Most unused pension funds and death benefits will be included within the value of a person’s estate for inheritance tax purposes from 6 April 2027.
A technical consultation was published at Autumn Budget 2024 on the proposal for pension scheme administrators to become liable for reporting and paying any inheritance tax due on pensions. The consultation concluded on 22 January 2025 and the responses are being considered. The Government will publish a response document and draft legislation for these changes later this year.
Verbatim has judged this answer against the question that was actually asked — answered, partly answered, or evaded. Sign in to see the verdict →