Posts Tagged ‘pensions’
IHT Planning and Pensions
IHT Planning and Pensions Until the 2024 Budget, the best available Inheritance Tax plan was the personal pension. This is because there is tax relief on contributions, the fund builds up in a tax advantaged environment and there is no IHT on death. However, Rachel Reeves in her Budget decided that this was too generous…
Read MoreIHT Planning and Pension Tax Free Cash
Since 2015, pensions have been the best Inheritance Tax planning tool available but, as we all know, the Chancellor is set to change that from 6th April 2027. From 6th April 2027, income tax and IHT will apply to what your beneficiaries take from your pension pot after you die. With all the potential ramifications,…
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