For our clients, the succession of their wealth they have built up over their lives is a priority. Mitigating, as far as possible, the level of Inheritance Tax (IHT) payable on their legacy, or passing funds to beneficiaries throughout their lifetime forms a key part of their financial plan.
From 6 April 2027, the UK government will include most unused pension funds and death benefits in the value of an estate for Inheritance Tax purposes.
That means where unused pensions could be used as part of a tax-efficient wealth-transfer strategy may now expose more estates to IHT. Read the latest articles from Directors
Sam Goult and
Alan Davidson. In this article in
The Scotsman, Sam explains the changes and factors to be aware of in relation to any unused pensions, the value of your overall assets and when to get advice. In this article in
The Press and Journal, Alan looks at the bigger picture of intergenerational Wealth.
Estates that previously sat below the threshold could now face an Inheritance Tax bill - and more complexity in settling it, including limited time to settle any bills due. General guidance on Inheritance tax can be found on the
www.gov.uk website. If you would like an appointment to discuss your estate and to get advice before April 2027, please
contact our team by completing the contact form, or calling our team on
0800 046 1660 who will be happy to help.
