CorporateCould pension tax reforms leave bereaved families facing costly borrowing?
Writing in The Telegraph, Charlotte Gifford explores concerns that bringing pensions into the inheritance tax calculation from April 2027 could leave families facing tax bills before they can access the funds needed to pay them.
Jo Summers, Partner and Head of Private Wealth & Tax at Jurit, contributed to the article on behalf of STEP, highlighting the financial pressure this could create when pension death benefits take time to reach beneficiaries.
As Jo explains: “Requiring the inheritance tax on a pension to be paid in full before beneficiaries receive any funds may create significant financial hardship. Unless the rules change, more families may find themselves having to borrow.”
The coverage highlights why understanding how an inheritance tax bill will be funded is an important part of estate planning.
To discuss how the pension inheritance tax changes could affect your estate and how to prepare, contact Jo Summers and our Private Wealth & Tax team at jo.summers@jurit.com.
If you have any questions, please contact
Jo Summers Partner - Private Wealth & Tax +44 (0) 20 7846 2370 jo.summers@jurit.com
Please note this paper is intended to provide general information and knowledge about legal developments and topics which may be of interest to readers. It is not a comprehensive analysis of law nor does it provide specific legal advice. Advice on the specific circumstances of a matter should be sought.
