The chancellor’s move to include pension funds in the inheritance tax (IHT) regime in the Budget was the biggest shake-up in advice in decades and will bring a host of complexities to the planning process, said Quilter head of technical sales Roddy Munro.
Speaking at the Personal Finance Society national conference today (12 November), Munro said the shake-up, which sees unused pension funds come under the scope of IHT, was the biggest change he had witnessed in his 34-year career. "This was the most eagerly anticipated budget that we have had in years. It was everyday headlines. We have seen some client behaviour that they may well regret. "When you come to assess the impact it brings – it was the biggest shake up to financial planning in a long time. "Bringing pensions into IHT regime biggest structural change I have seen in 34 ye...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes