The committee’s report urges extending the IHT payment deadline for pension assets to 12 months and warns against implementing changes before April 2027 without finalized regulations.
Recommendations include improving guidance for personal representatives, launching an awareness campaign, and addressing difficulties in identifying pension assets after death due to current dashboard limitations.
The sub-committee highlights low public awareness of the new IHT rules for pensions and calls for further government action to ensure fair and practical implementation before the proposed 2027 changes.
Are executors facing a legal minefield with the new pension inheritance tax rules starting in 2027?
How can you legally shield your pension from the new 40% inheritance tax before the 2027 deadline?
Is the new pension tax a fair reform or a stealth tax on middle-income families?
With the Pensions Dashboard off-limits, how will you find lost pensions now subject to a 40% tax?
Annuity sales are soaring. Is this the best way to bypass the new pension inheritance tax?