Implications of the changes to the rules on Pensions and IHT [2025]

Currently, undrawn discretionary pension funds are not part of a deceased’s IHT estate. The recipient receives them without a deduction of IHT. Funds can be taken as a lump sum or retained in the pension wrapper as a ‘pot’.

The income tax treatment largely depends on the age of the deceased member at death.

Implications of the changes to the rules on Pensions and IHT

HMRC issued the Summary of Responses to its Consultation Paper IHT on Pensions: The liability, reporting and payment on 21 July 2025 together with draft legislation . There are significant changes to the way the process will work. Sadly the changes are uniformly bad news for PRs and those advising them.

This session will look at how the process is now going to work (or not work!)and at some of the question marks that remain about the practicalities.

After this session delegates will be aware of the tax implications of the changes the implications for PRs.

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