Inheritance tax warning as pension rule change could leave families facing unexpected bills
A major shift in pension taxation is just over a year away, with changes set to bring unused defined contribution pension savings into the scope of inheritance tax. From next year, any unused money held in defined contribution pensions will be counted as part of an individual s estate for inheritance tax purposes. The change is expected to draw more estates into the inheritance tax net, although the overall proportion of people affected is forecast to remain relatively small
A major shift in pension taxation is just over a year away, with changes set to bring unused defined contribution pension savings into the scope of inheritance tax. From next year, any unused money held in defined contribution pensions will be counted as part of an individual s estate for inheritance tax purposes. The change is expected to draw more estates into the inheritance tax net, although the overall proportion of people affected is forecast to remain relatively small
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