We do not know what will be in the Autumn Budget on 26 November. Think carefully before making financial decisions based on speculation.
Currently pensions are typically free from IHT. The final legislation has not been published, but it’s expected that pensions will no longer be exempt from inheritance tax (IHT) from 6 April 2027. This means that if you still have money in your pension when you die, it might be subject to IHT at 40%, depending on the value of your estate.
The expected changes will not take place until 2027, so there are still benefits to keeping funds in a pension now.
To learn more about the new rules and who will be impacted, read our previous article on what the pension and IHT changes mean for you.
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