The Budget has introduced key changes in spending, national insurance, and taxation, prompting businesses and individuals to reassess their financial plans.
Since the announcement, we have seen a sharp rise in client enquiries—twice the usual number—from those looking to gift assets before their death to mitigate inheritance tax. With pension inheritance tax changes set to take effect in April 2027, this trend is likely to accelerate in the coming years.
While 2027 may seem distant, the growing demand for legal and financial services makes early action crucial. Proactive planning now can help individuals navigate these changes efficiently and secure their financial future.
Planned pension tax changes
Pensions are primarily used to build wealth and save for retirement, but until now, they have also offered a straightforward way to pass money on to loved ones. Under current law, you can leave your pension to your next of kin without it being subject to inheritance tax.
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