Pension death tax – fair game?

Government took steps to reset the purpose of a pension

clock • 4 min read

Budget changes bringing pensions into the scope of IHT represent a new opportunity to showcase the value of professional financial planning, writes Lee Halpin

Inheritance tax (IHT) is an emotive topic and certainly unpopular. Only around one in five think it's fair, according to recent polling by YouGov.  Double taxation is a common objection to IHT, although some argue that such a tax helps achieve the vertical equity principle, i.e. those with a greater ability to pay tax should pay relatively more, to boost societal equality.  Clearly, fairness means different things to different people. Actually, what's deemed fair can be nuanced. For example, research from Tax Policy Associates concluded it was plausible that a majority would believ...

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

Join

 

Already a Professional Adviser member?

Login

More on Tax planning

Spring Statement sigh of relief? Don't hold your breath for the Budget

Spring Statement sigh of relief? Don't hold your breath for the Budget

'It never hurts for us to adopt the brace position'

Lee Halpin
clock 15 April 2025 • 4 min read
A new tax year for advice: 'Tax planning is not done'

A new tax year for advice: 'Tax planning is not done'

Advisers urge clients to maximise their tax breaks

Isabel Baxter
clock 08 April 2025 • 5 min read
Farming families must be proactive on advice ahead of APR/BPR change

Farming families must be proactive on advice ahead of APR/BPR change

‘The difficult conversations need to happen now’

Sahar Nazir
clock 03 April 2025 • 6 min read