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MSE News: 'Give families more time to pay Inheritance Tax bills on pensions', Lords Committee urges
Families should be given at least 12 months to pay Inheritance Tax (IHT) once it starts being charged on pensions from April 2027, a House of Lords Committee has told the Government. In a new report published today (Wednesday 28 January), the Committee also recommended that late-payment interest is frozen for two years while the new rules bed in…
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Hearing on this forum how slow some pension administrators are, it's probably a good idea 🤣🤣🤣🤣
......Gettin' There, Wherever There is......
I have a dodgy "i" key, so ignore spelling errors due to "i" issues, ...I blame Apple
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Is there any requirement to apply for probate before pension related payments are finalised? If that is the snail in the room, then I'd be holding off on getting the IHT bill clock ticking for as long as possible.
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Difficult timescale if eg an inquest is required.
Also, if beneficiaries agree for IHT to be paid from pension assets - would IT also have to be paid on the amount taken out if the owner died after age 75?
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