Pensions and inheritance tax
Get the latest pensions and inheritance tax (IHT) updates straight from our technical experts – helping you navigate the wilderness of change with clarity.
The latest from our experts
NEW
Pension Tax Lock: bringing certainty to retirement saving
We are calling on the new Chancellor to introduce a Pension Tax Lock, following evidence that uncertainty around pension tax policy prompted savers to withdraw billions from their pensions ahead of recent Budgets.
The latest update from our CEO, Michael Summersgill, explains why greater stability matters, and what a Pension Tax Lock could mean for savers, advisers and the wider retirement market.
Big changes ahead
From April 2027, most pensions will fall within the scope of IHT, fundamentally changing how death benefits, taxed and planned for.
To help you prepare, our latest update sets out what we know so far and what it means in practice, including:
- how IHT on pensions will be calculated and paid;
- the new responsibilities for personal representatives and
- the key planning considerations for you and your clients
New IHT relief changes for farmers and businesses
From 6 April 2026, the Government increased the threshold for Agricultural Property Relief (APR) and Business Property Relief (BPR).
- Individuals can now pass on up to £2.5 million of qualifying agricultural or business assets with full relief.
- Couples can now transfer up to £5 million tax‑free through the transferable allowance.
This replaces the Autumn Budget 2024 proposal to cap full relief at £1 million.
The higher limits mean fewer estates are expected to lose full relief, offering greater protection for typical family farms and small businesses. Only the largest estates are likely to be affected once the rules take effect.
For more information, visit the Government website.
Making the most of the gifts out of income exemption
Gifts out of income that are part of normal expenditure will be exempt from IHT – regardless of how long before death the gifts were made. In this guide we explain:
- what ‘normal expenditure’ means;
- the importance of record keeping; and
- how to claim the exemption.
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What our experts have to say
The most up-to-date articles on this topic, directly from our in-house Technical Team.
Preparing for the IHT changes: your next steps
HMRC misses the mark on IHT changes
Passing on wealth: how IHT changes will affect pension planning
Make the most of our Techcentre
To keep your finger on the pulse of the ever-changing regulatory and legislative landscape with the help of our Technical experts
Navigate the IHT shake-up with expert insight
Connect 2026
Manchester
30 July
Our Connect sessions are designed to help paraplanners and adviser support staff expand their technical pensions and investment knowledge.
Off the Road - Pension death benefits and IHT
Online
27 Aug
In this sought-after session, Senior Technical Consultant, Lisa Webster will explore the latest position on death benefits and inheritance tax.
The Great Wrapper Reset Tour
10 locations
7-22 September
The Great Wrapper Reset Tour brings together the key technical, investment, platform and behavioural considerations shaping wrapper strategies today.
Investival 2026
The Shaw Theatre, London
12 Nov 2026
Investival is a fusion of investment conference and music festival; it’s a place where people come together to learn from experts, enjoy live music and network in a truly unique atmosphere.