With under a year to go before pension pots are brought into the scope of inheritance tax, HMRC issues important technical note, with some left wanting more
Covering roll out and expectations on personal representatives (PRs) and scheme administrators, HMRC has issued a singular technical note on inheritance tax (IHT) on pension pots.
In what it labelled as ‘next steps’, HMRC said complete guidance would not be published until spring 2027.
With IHT on pension pots beginning on 6 April 2027, HMRC’s extended timetable to release proper technical guidance detail has come in for criticism from pension specialists, who complain there will not be enough time to prepare for the major overhaul.
‘We have concerns about the impact of further guidance being issued in spring 2027 just weeks before actual cases begin to arise’, said Tim Camfiled, pension actuary at Lane Clark & Peacock (LCP).
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